Morning Bid: Stocks stunned by ASML curveball, pound plunges

World markets struggled to find a footing on Wednesday after Europe's ASML sideswiped the global chip sector late yesterday with a surprisingly weak orders outlook and investors prayed the flub was a one-off as third-quarter earnings updates stream in.

The read across to AI-darling Nvidia saw its shares recoil almost 5% from Monday's new record, with a small recovery pencilled in ahead of today's bell. Beijing will hold a press conference on Thursday to discuss promoting the "steady and healthy" development of the property sector, the State Council Information Office said, although that's failed to reignite much market excitement.

Citigroup, however, fell 5% after it reported mixed results with net income declining and net interest income weaker than expected while debt underwriting propped up its investment banking results.Wall St futures more broadly are slightly higher before the open.As the U.S. election campaign enters its final phase, betting markets put Republican Donald Trump as the slight favorite to return to the White House despite opinion polls showed a tight race between him and Democrat rival Kamala Harris.

How Trump plans to weaken the dollar, however, remains a bit of mystery beyond his well-flagged tariff plans.* US corporate earnings: Morgan Stanley, US Bancorp, Citizens Financial, Discover Financial, Equifax, Synchrony, Prologis, Abbott Laboratories, CSX, PPG, Kinder Morgan, Steel Dynamics, Crown CastleKremlin suggests Europe is struggling to mobilise its arms industries for Ukraine

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