Asian stocks were set to open lower on Wednesday, weighed by a weaker Wall Street finish after U.S. President Donald Trump dashed hopes for a fourth stimulus package with a tweet.
However, those gains sharply reversed when the president announced on Twitter that he had halted negotiations for additional stimulus until after the election. The Dow Jones Industrial Average fell 1.34per cent, the S&P 500 lost 1.40per cent and the Nasdaq Composite dropped 1.57per cent.Spot gold also fell on the news, dropping 1.4per cent to US$1,886.01 per ounce by the end of the session and continued to slide after hours.
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