Stock and bond markets took unnerving tumbles yesterday when the Federal Reserve Chair suggested there won’t be as many interest rate cuts next year. The S&P fell 3% and the Dow fell more than 1,100 points. We could also get a partial federal government shutdown by the end of the week. We’ll discuss the latest economic headlines. Plus, some Amazon workers go on strike today, and we’ll hear more about the merch economy.

From the BBC World Service: A new report from the European Central Bank and the European Union’s insurance regulator calls for a big shake-up in Europe’s climate insurance system. It’s planning for a new EU-wide insurance plan that would help protect businesses and homeowners from extreme weather and uses reinsurance, which pools risks, to make sure people are actually covered. Also: Concert merch, once a reliable profit source for performers, is becoming squeezed.

A deal to keep the government funded through the holidays and into the new administration has run into opposition. President-elect Donald Trump and advisor Elon Musk are urging Republicans in Congress to vote down a government funding extension. We’ll hear more. Plus, stock futures are pointing to a small rebound after stock prices dropped sharply on warnings that higher interest rates could linger. And later: What’s it like to work at the circus?