SINGAPORE - Asian stocks turned lower and the dollar stood by multi-month peaks on Tuesday as a sharp sell-off in bonds and a jump in gold suggested investors are hunkering down ahead of the U.S. election.
Wall Street gauges edged down overnight and futures inched lower in Asia. A sharp rebound in oil prices - which can flow through to inflation - probably helped unsettle bond markets, said ANZ strategist Jack Chambers, along with the U.S. election, now only two weeks away, coming in to view. In Australia, the benchmark S&P/ASX 200 was down more than 1.3% mid-morning. Shares in independent grocer Metcash slid 6% after a Goldman Sachs note cut the stock price target and said the company risks losing market share.
"With a victory for President Trump now priced into currency markets, AUD/USD has modest rather than large downside risk from when the election results start to be released," said Commonwealth Bank of Australia strategist Joe Capurso in a note. General Motors, Texas Instruments Verizon, Lockheed Martin and 3M are among those reporting on Tuesday.DENVER — The Denver Nuggets secured another one of their core players by agreeing with forward Aaron Gordon on a four-year, $133 million contract extension Monday night.The Latest: Trump and Harris make final pushes in key battleground states
The investigation comes after the city of West Palm Beach confirmed seven officers were placed on administrative leave related to allegations of overtime and financial misconduct.As the European Central Bank's recent interest rate cuts fuel optimism for further monetary easing, Sweden's market environment presents intriguing opportunities for small-cap investors.
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