The United States faced a turbulent Thursday marked by continued political gridlock in Washington, fresh diplomatic maneuvers in the Russia-Ukraine war, legal challenges to a new visa fee policy, and a sharp downturn in stock markets.
From the Senate’s failure to break a 16-day shutdown to Wall Street’s renewed losses, the day underscored a mix of political uncertainty and economic strain.
Senate fails to end shutdown for 10th time
The Senate once again failed to advance a Republican-led bill to extend government funding and end the ongoing shutdown, marking the tenth failed attempt since the deadlock began more than two weeks ago.
The 51–45 vote fell short of the 60 votes needed to move forward, with no Democrats crossing party lines.
The result ensures that the partial government shutdown will continue through at least October 20, when lawmakers are set to reconvene.
Senate Majority Leader John Thune expressed frustration over the impasse, saying he had offered Democrats a guaranteed vote on a one-year extension of health care tax credits — one of their key demands — though he could not ensure passage.
Senate Minority Leader Chuck Schumer, however, dismissed the claim, noting that Democrats had not received a formal proposal and were “not negotiating in public.”
A separate vote to fund the Pentagon also failed, with only three Democrats — Jeanne Shaheen, John Fetterman, and Catherine Cortez Masto — joining Republicans.
The stalemate is the longest since the 2018–2019 shutdown, and analysts warn it could soon impact federal operations and economic growth.
Trump and Putin to meet in Hungary amid Ukraine conflict
In a significant diplomatic development, President Donald Trump announced plans to meet Russian President Vladimir Putin in Hungary, following a long phone conversation between the two leaders.
The talks come as the Trump administration weighs supplying Tomahawk missiles to Ukraine — weapons capable of striking deep inside Russian territory.
Reports indicate that Trump and Putin have maintained regular communication in recent weeks, exploring the possibility of a negotiated peace.
The proposed meeting, backed by Hungarian Prime Minister Viktor Orbán, could serve as a crucial platform for dialogue alongside Trump’s scheduled meeting with Ukrainian President Volodymyr Zelenskyy on Friday.
Analysts say a successful summit could reshape security dynamics in Eastern Europe, while failure could heighten tensions between Washington and Moscow.
US chamber of commerce sues Trump administration over H-1B visa fee
The US Chamber of Commerce has filed a lawsuit against the Trump administration, challenging a new executive order requiring companies to pay $100,000 when applying for H-1B worker visas.
According to the complaint, the hefty fee could make it “cost-prohibitive” for startups and small businesses to hire skilled foreign talent.
Chamber executive vice president Neil Bradley argued that the policy undermines the original intent of the H-1B program — to ensure US businesses can access global talent to grow domestically.
The administration is already facing similar lawsuits from a healthcare-staffing company and labor unions led by Global Nurse Force.
Wall Street slides as banks drag markets lower
U.S. stocks fell sharply on Thursday, erasing early gains amid renewed concerns over credit quality and the prolonged shutdown.
The Dow Jones Industrial Average dropped 315 points 0.65%, while the S&P 500 lost 0.63% and the Nasdaq Composite declined 0.47%.
Regional banks led the selloff, with Zions Bancorp plunging 13% after taking a major charge related to bad loans, and Western Alliance falling 11% after alleging borrower fraud.
Traders also cited the ongoing government shutdown and trade tensions as weighing on sentiment.
Analysts warned that political uncertainty and tightening financial conditions could further pressure markets in the coming weeks.
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