Traders work on the floor of the New York Stock Exchange. US stock indexes slipped in choppy trading on Monday, as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve is likely to cut its benchmark policy rate. Photograph: Michael M. Santiago/Getty Images
Mr Trump’s policies on immigration, tax cuts and tariffs may put upward pressure on inflation, bond yields and the dollar, analysts believe, while Harris is seen as the continuity candidate. Most of the other big players on the exchange AIB, Kingspan, Kerry and Glanbia ended the session in the red as investors awaited bigger news later in the week. Permanent TSB and hotel group Dalata were among the few shares to advance.European stocks retreated on Monday as caution over the imminent US presidential election weighed on the regional benchmark, though losses were kept in check by buoyant banking and energy shares.
European equities have drifted lower over the past month or so as investors brace for multiple risk events, including this week’s US presidential election, as well as interest rate decisions from both the Federal Reserve and the Bank of England.The UK’s benchmark FTSE 100 rose marginally on Monday, helped by energy shares, while cautious investors braced for the U.S. presidential election and a potential interest rate cut by the Bank of England later this week.
The personal goods sector, however, led sectoral gains, driven by an 4.8 per cent jump in Burberry after a report that Italy’s Moncler was considering a bid for the luxury retailer.