NEW YORK — Shares were mixed in Asia early Tuesday after U.S. stock indexes drifted lower a day ahead of the U.S. presidential election.
The Standing Committee of China’s National People’s Congress is meeting this week, and analysts say the government may endorse major spending initiatives to boost economic growth amid troubles for the country’s real-estate industry. On Monday, the S&P 500 slipped 0.3% to 5,712.69, remaining near its record set last month. The Dow Jones Industrial Average fell 0.6% to 41,794.60, while the Nasdaq composite slipped 0.3% to 18,179.98.
The hope that’s propelled U.S. stock indexes to records recently is that the U.S. economy can remain resilient and avoid a long-feared recession, in part because of the coming cuts to rates expected from the Fed. On Monday, Treasury yields gave back a chunk of those gains. The yield on the 10-year Treasury fell to 4.29% from 4.38% late Friday.
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