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Good morning. Today is Wednesday, the 1st of October. I'm Julie Morgan.

The U.S. government goes dark. Taiwan says no to a chip quota, and NVIDIA hits a record high again.

The U.S. government shutdown began at 12.01 a.m. after the Senate rejected a short-term measure,

forcing agencies to suspend operations except for those that are essential.

On Tuesday night, the Senate vote fell 55 to 45. Five votes short of the 60 needed to overcome a filibuster and pass the legislation.

This marks the first government shut down since 2018, when the funding gap lasted for five weeks during Trump's first term.

It means thousands of workers are on unpaid leave and many government programs

and services have been halted. Roughly 750,000 federal workers could be furloughed each day,

while key economic reports like jobs data and weekly claims will not be released.

Shutdowns typically last about a week and history shows markets often bounce back.

On average, the S&P 500 has gained 13% a year after, including an 11% rally during the 2018

shutdown. In the meantime, the government defers about $400 million in daily costs and the Fed usually turns

more dovish when the data goes dark. Taiwan, which is home to the biggest contract chip maker,

TSMC, said it will not agree to produce 50% of its semiconductors in the U.S. The island's top negotiator, the vice premier, said she wants

to clarify that this is the U.S.'s idea and that the negotiation team has never made a 50-50

commitment to a chip split. She added that they did not discuss the issue this time and they will

not agree to such a condition. She said that talks over

U.S. tariffs on Taiwanese goods made some progress. Right now, there's a 20% levy on Taiwan.

NVIDIA shares hit a new record on Tuesday, rising 2.6% and making the chipmaker the first

company to hit a $4.53 trillion market cap. Shares closed

at $186.586. Invidia raced through market cap milestones in recent years crossing $3 trillion in June

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