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Global Stocks, U.S. Dollar Sink Further As White House Race Gets Closer


The U.S. dollar hit its lowest levels in more than three weeks against the euro, yen, Swiss franc, and British sterling.

The U.S. dollar hit its lowest levels in more than three weeks against the euro, yen, Swiss franc, and British sterling.

Stocks and the U.S. dollar continued to slide as investors worried that a tightening U.S. presidential race will trigger global market tumult.

U.S. tracking polls show the race between Democrat Hillary Clinton and Republican Donald Trump getting closer, forcing investors to rethink long-held bets on a Clinton victory and a continuation of the policies established by President Barack Obama.

Weakness on Wall Street sent MSCI's 47-country "All World" index down 0.74 percent, close to a four-month low, on November 2, and stocks continued to struggle when markets opened in Asia on November 3.

"The main driver is concerns regarding the election. It looked like Clinton was going to win, and now that Trump is gaining momentum, it's making people nervous," Neil Massa, senior equity trader at Manulife Asset Management, told Reuters.

Meanwhile, the U.S. dollar hit its lowest levels in more than three weeks against the euro, yen, Swiss franc, and British sterling on continued nervousness about the election.

Gold prices, seen as a refuge in times of uncertainty, continued to climb, adding 0.8 percent to $1,297 an ounce.

Based on reporting by AP, AFP, and Reuters
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