Stocks fell on Tuesday as a potential U.S. government shutdown loomed. Despite the latest declines, Wall Street was headed for an unusually strong September.

Although shutdowns aren’t usually market-moving events, this time could be different as investors are already wary about a slowing labor market, the risk of stagflation and elevated stock valuations. A shutdown could also prompt rating agencies to rethink the condition of U.S. credit, which was downgraded in May by Moody’s.

This comes a day after Vice President JD Vance said following a meeting between President Donald Trump and top Democrats and Republicans that he thinks 「we’re headed to a shutdown.」

The Labor Department also announced Monday that the September nonfarm payrolls report scheduled to release Friday will not come out if the U.S. government suspends operations. The report is one of several upcoming key data releases that will provide crucial information about the direction of the economy ahead of the Federal Reserve’s upcoming October policy meeting. Exacerbating concerns over the shutdown was President Donald Trump’s threat over the weekend that a shutdown could result in mass firings of federal workers.

CoreWeave has signed a $14 billion deal with Meta to supply computing power, Bloomberg News reported on Tuesday, underscoring the large costs of building out infrastructure to run and train large language models.

Shares of CoreWeave surged 10% following the news.