distribute economy today: Global shares mostly decline as investors await returns, US elections

TOKYO — Global shares mostly declined Thursday as investors grappled with uncertainty ahead of the U.S. election next Tuesday.

France’s CAC 40 slipped 0.7% to 7,378.45 in early buying and selling. Germany’s DAX fell 1.1% to 19,257.34. Britain’s FTSE 100 declined 0.6% to 8,114.02. U.S. shares were set to drift lower with Dow derivatives down 0.5% at 42,149.00, while S&P 500 derivatives slipped nearly 0.8% to 5,807.50.

Japan’s point of reference Nikkei 225 dipped 0.5% to complete at 39,081.25. Australia’s S&P/ASX 200 slipped 0.3% to 8,160.00. Hong Kong’s Hang Seng lost 0.1% to 20,359.95, while the Shanghai Composite added 0.4% to 3,279.82.

South Korea’s Kospi dropped 1.5% to 2,556.15 after North Korea test launched a recent intercontinental ballistic missile designed to be able to hit the U.S. mainland in a shift that was likely meant to grab America’s attention ahead of Election Day.

Markets also were watching the financial institution of Japan, which kept its point of reference rate unchanged at 0.25%. Japan is also facing political uncertainty after its governing event, tainted by campaign financing scandals, lost its majority in the lower house of parliament in elections last weekend.

Upcoming returns releases in Asia, as well as the rest of the globe, also added to the wait-and-view mood.

A U.S. update Wednesday suggested employers outside the government accelerated their hiring in October, when economists were forecasting a slowdown. It could raise optimism for Friday’s more comprehensive jobs update coming from the U.S. government.

A slowing economy is no shock after the Federal safety net hiked yield rates sharply in hopes of braking the economy enough to get expense boost under control. The question is whether the Fed can assist keep the economy out of a downturn, now that it’s begun cutting yield rates to keep the job economy humming.

Traders are largely expecting the Fed to cut its federal funds rate by a quarter of a percentage point at its next conference next week, according to data from CME throng.

In vigor buying and selling, point of reference U.S. crude rose 18 cents to $68.79 a barrel. Brent crude, the international standard, added 15 cents to $72.70 a barrel.

In money buying and selling, the U.S. dollar slipped to 152.14 Japanese yen from 153.31 yen. The euro expense $1.0855, down from $1.0858.

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AP Business Writer Stan Choe contributed.

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Yuri Kageyama is on X: https://x.com/yurikageyama