Asian Markets Sink on Election Worries; Gold Rises

Asian stocks fell on Wednesday ahead of the Fed's rate call later today as the chances of a Donald Trump victory in the Presidential elections appeared to increase.

U.S. futures were also down, with the Dow Jones down 0.26%, S&P 500 mini futures  0.29%  lower and Nasdaq 100 futures off 0.25%. The Fed is seen unlikely to change rates today, when it will deliver its verdict during the U.S. afternoon.

The dollar was down 0.24% against the yen at ¥103.9000 after an equities selloff on Wall Street on Tuesday. An ABC/Washington Post poll yesterday put Republican Trump one percentage point ahead of Democratic Presidential candidate Hillary Clinton, though other polls suggest Clinton has a narrow lead. Clinton lost ground after the FBI last week reopened an investigation into her use of her private email server.

Spot gold was up 0.38% at $1,293.13 an ounce.

Brent crude was recently down 0.42% at $47.94 a barrel.

In Japan, Nikkei 225 closed down 1.76% at 17,134.68 and the Topix fell 1.78% to 1,368.44.

NH Foods bucked the negative trend, rising 9.4% after the release of a September market trends bulletin.

Yahoo Japan rose almost 4%.

In Hong Kong the Hang Seng dropped 1.46% to 22,808.00, with financial institutions down. Bank of East Asia was down 2.5% and Bank of Communications lost 2.3%. China Construction Bank was down 1.9%.

On mainland China the CSI 300 fell 0.79% to 3,332.65.

More from Futures

GE Beats Earnings Estimates and 4 Other Stories You Must Know Friday Morning

GE Beats Earnings Estimates and 4 Other Stories You Must Know Friday Morning

Amazon Prime Tops 100 Million Members and 4 Other Stories You Must Know Thursday

Amazon Prime Tops 100 Million Members and 4 Other Stories You Must Know Thursday

Commodities Surge as Energy Stocks Lead Market Higher

Commodities Surge as Energy Stocks Lead Market Higher

IBM Earnings and 4 Other Business Stories You Must Know Wednesday Morning

IBM Earnings and 4 Other Business Stories You Must Know Wednesday Morning

IBM, Morgan Stanley, Southwest - 5 Things You Must Know Before the Market Opens

IBM, Morgan Stanley, Southwest - 5 Things You Must Know Before the Market Opens