World News – GB – Stocks slide, bonds rally ahead of US presidential debate


NEW YORK (Reuters) – Global equity benchmarks slipped and government bonds rose slightly on Tuesday as investors remained hesitant ahead of the first US presidential debate and monitoring progress of talks for new fiscal stimulus in Washington

As time is running out to change their mind or influence undecided voters, the stakes are high as the two leading White House candidates take the stage this evening, five weeks before Election 3

Former Vice President Joe Biden’s campaign has seized a new line of attack ahead of the debate with President Donald Trump scheduled for Tuesday evening, accusing the Republican president of playing with the system to avoid paying his fair share of taxes

Many see a Biden victory increasing the odds of further fiscal stimulus to counter the economic damage from the COVID-19 pandemic, deeming such a scenario a boon to stocks

“What seems clear is that if you saw a blue wave, a democratic sweep, you would see substantial fiscal stimulus,” said Mike Bell, global market strategist at JP Morgan Asset Management. risk, I always thought, for this recovery is a premature fiscal tightening « 

« Tonight’s debate will be critical, as it represents one of the last decisive opportunities for either candidate to change the contours of the race, » Deutsche Bank analysts wrote in a statement. note

MSCI stocks gauge across the world MIWD00000PUS shed 024% after sharp declines in Europe and Asia European sectors in negative territory included growth-sensitive banks SX7P, carmakers SXAP and travel & leisure SXTP

On Wall Street, the Dow Jones Industrial Average DJI fell 13,232 points, or 048%, to 27,454,174, the S&P 500 SPX fell 1,617 points, or 048%, to 3.33543 and the Nasdaq IXIC composite fell from 3228 points, or 029%, to 11 08525

As the worldwide death toll from COVID-19 topped one million, according to a Reuters tally, investors remained focused on the prospects of a stimulus package to help the US economy recover. recover from damage caused by the virus

US House of Representatives Speaker Nancy Pelosi on Monday said Democratic lawmakers unveiled a new, $ 2 trillion coronavirus relief bill Pelosi has said in recent days that she believes ‘deal could be reached with White House on new coronavirus relief program and talks could continue

Stimulus packages were also a focus in bond markets, where the German 10-year bond yield DE10YT = RR fell to its lowest in seven weeks before the first inflation estimates for September

US 10-year benchmark US10YT = RR has increased 5/32 in price to give 06479%, from 0663% late Monday

US CLc1 crude fell 401% to $ 3897 a barrel and Brent LCOc1 was at $ 4083, down 377% on the day

All quotes have been delayed by at least 15 minutes See here for a full list of exchanges and delays

US Presidential Debates, Stock Exchange, Bourse, Joe Biden, Bond, US President, Debate

News from around the world – UK – Stocks slide, bonds rise ahead of US presidential debate



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