Stock Market Today: S&P 500, Dow, Nasdaq Futures Drop Following Government Shutdown—Nike Earnings In Focus

U.S. stock futures tumbled on Wednesday following Tuesday’s advances. Futures of major benchmark indices were lower. The indices dropped as the U.S. federal government officially entered a shutdown at 12:01 a.m. on Wednesday, Oct. 1, after Congress failed to reach an agreement on a spending plan. However, historical data suggests that these events are often short-lived and have a limited long-term impact on equities.