Stocks slip ahead of US midterms as oil drops and Apple weighs on tech
What's new: Brent fell as much as 7% on Iran war deal hopes, while Apple's weak margin outlook added to election jitters.
Asian and European stocks edged lower ahead of the US midterm elections, with investors balancing political risk, falling oil prices and fresh pressure on technology shares. Europe’s Stoxx 600 slipped 0.1% on Monday and Asia-Pacific shares outside Japan dropped 0.9% on Tuesday, while S&P 500 futures were little changed after Wall Street losses. Brent crude slid more than 7% before steadying near $104 to $105 a barrel as traders weighed talks involving Iran and Qatar and a Wall Street Journal report that the US military struck Iran’s Qeshm Island. Apple also hit sentiment after forecasting lower holiday-quarter gross margins and weaker-than-expected services growth, extending its shares’ decline in after-hours trade.