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Here's your morning brief for Wednesday, October 1st. I'm Kate Bullivant for the Wall Street Journal.

The federal government shut down for the first time in nearly seven years, just past midnight this morning,

after lawmakers couldn't reach a deal to keep the government funded. Social Security, Medicare and Medicaid payments

will continue, but about 750,000 federal employees could be furloughed without immediate pay. The fallout

from the shutdown will likely depend on its length and scale, but with both Democrats and Republicans

pointing fingers, any resolution

could at least be several days away. House lawmakers aren't expected to return to Washington

until next week, and any compromise funding proposal would need their approval. The Bureau of Labor

Statistics is still without a leader after the White House has withdrawn its nomination of Conservative economist E.J. Antony.

The agency has been left without a head since August after Trump fired the previous BSL leader.

The reason for the decision remains unclear, but a White House official praised Antony and said the president

will soon nominate a new candidate to lead BLS. Antony didn't immediately respond to a request

for comment. And European pharmaceutical stocks are trading sharply higher after President Trump

yesterday unveiled plans to launch a government-run website, dubbed Trump RX,

for consumers to buy drugs directly from manufacturers.

While Tuesday's announcement was specific to drugs from Pfizer, analysts at Jeffries say it may

...