U.S. stock futures fell, signaling the market will extend a weekly decline, amid concern a political impasse over the federal budget will hurt the economy. Treasuries rose while the yen strengthened and energy led commodities lower.
The yen strengthened as Japan’s finance minister damped speculation the government will cut the corporate tax rate, while the pound climbed. Italian bonds, European stocks and U.S. index futures declined.
Oil and products did a supply slide as disruption in supply all around the globe seemed to come online all at one time. In Libya, South Sudan, Nigeria and Iraq supply that was slowed or halted is coming back online.