US stock markets edged lower and gold retreated from a record high on Tuesday as traders steeled themselves for a possible US government shutdown.

Congressional leaders met President Donald Trump Monday to seek a breakthrough before a midnight Tuesday deadline, but top Senate Democrat Chuck Schumer told reporters afterwards that “large differences” remained.

Vice President JD Vance accused the Democrats of putting “a gun to the American people’s head” with their funding demands, adding: “I think we’re headed to a shutdown because the Democrats won’t do the right thing.”

While shutdowns are not usually painful, markets remained cautious, analysts said.

“Usually, markets ignore shutdowns — most last only a few days and investors seem to take a long-term view of the situation, and the sho

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