<h1>Federal shutdown halts BLS operations, delays key labor data and heightens legal, regulatory risks for financial markets</h1> A US federal government shutdown began, prompting market volatility and delaying key economic data releases because the Bureau of Labor Statistics would suspend operations during a lapse in appropriations; this raises legal and regulatory risks for financial markets and policymakers reliant on timely labor reports. The administration reportedly plans significant federal workforce actions and withdrew a high-level BLS nomination, complicating agency leadership and statutory obligations. Central bank policy expectations, foreign central bank moves and emergency liquidity operations in other jurisdictions were cited as mitigating factors, but legal uncertainty around staffing, data continuity and executive actions heightens systemic risks.