Tuesday, 1 November 2016

Markets fall ahead of US elections

Markets mostly fell on Monday.

The S&P 500 was flat but the Dow Jones Industrial Average fell 0.1 percent. The S&P 500 was down 1.9 percent for the whole of October, its worst performance since January.

Elsewhere, the STOXX Europe 600 fell 0.5 percent and the Nikkei 225 fell 0.1 percent.

US crude oil fell 3.8 percent, its biggest decline since 23 September.

The yield on the US 10-year Treasury note fell to 1.834 percent from 1.847 percent on Friday.

CNBC reports that stocks could continue to trade hesitantly ahead of the US elections.

Julian Emanuel, equity and derivative strategist at UBS, reportedly said: "When the election is as contentious as this one has been with so much back and forth, and the prevalence of the third-party candidate, what our work has shown is the market has tended to trade very indecisively the month before and several months after."

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