World Market

 U.S. Stock Futures Drop, Oil Sinks; Dollar Gains: Markets Wrap

Volatility greeted markets at the start of a crucial week that could set the tone for the remainder of the year, with the U.S. election and a Federal Reserve policy meeting. Oil tumbled about 5%.

S&P 500 futures were lower and the dollar edged higher with Treasuries. Australian shares fluctuated and Japanese stocks opened firmer with global equities coming off the back of two months of losses. Concern that growth will be hampered by further lockdown measures in Europe dragged crude prices and commodity currencies lower. The Canadian and Australian dollar both underperformed.

Main moves in markets:

Stocks

S&P 500 futures fell 0.5% as of 9:02 a.m. in Tokyo. The benchmark fell 1.2% on Friday.

Japan’s Topix index rose 1%.

South Korea’s Kospi added 0.4%.

Australia’s S&P/ASX 200 Index slipped 0.2%.

Currencies

The Bloomberg Dollar Spot Index gained 0.1%.

The yen was at 104.59 per dollar, up 0.1%.

The offshore yuan was at 6.6969 per dollar.

The euro bought $1.1640.

The pound slid 0.1% to $1.2929.

Bonds

The yield on 10-year Treasuries fell two basis points to 0.85%.

Australia’s 10-year yield remained at 0.83%.

Commodities

West Texas Intermediate crude slid 5.3% to $33.89 a barrel.

Gold fell 0.2% to $1,875.74 an ounce.