Midday Report: Ford Sees October Slump; Safe-Haven Assets Rise

U.S. stocks moved mostly lower as crude slumped and jitters over the presidential election persisted. Safe-haven assets rose, including government bonds and gold. Crude inventories in the U.S. increased by more than 14 million barrels in the past week, far higher than analysts expected. Prices were already under pressure on fading hopes that major oil producers would agree to a production freeze deal. Ford (F) - Get Report reported a sharp drop in October sales in the United States. Unit sales declined 12% as passenger car sales slumped. Ford postponed its release on Tuesday due to fire delays at its headquarters in Michigan. Allergan (AGN) - Get Report fell after cutting its full-year earnings and sales outlook. The drugmaker also committed to returning more cash to shareholders by way of a buyback program worth $15 billion.