Global market wrap: quite a day, stocks weighed, dollar down, GBP in a big chop - ANZ

Analysts at ANZ explained that European shares finished the day down at least a percent with weakness in the Asian session driving nervous trading into the European session. 

Key Quotes:

"US stocks were also weighed, led by large-cap technology stocks, on the back of senate hearings about social media and foreign influences on the US elections (S&P 500 is down 0.3%; NASDAQ down 1.1%)."

"The USD gave back some recent gains as emerging market currencies stabilised, and was generally lower against the G10. The GBP experienced a choppy session, spiking to a high of 1.2983 after news that the UK and German governments had abandoned key demands in order to make it easier to strike a Brexit deal. But later gains were pared back, sending the GBP back down to 1.29, after reports that Germany’s position on Brexit is unchanged."

"Emerging market currencies got a reprieve with both the Turkish lira and the Argentine peso up against the USD. Oil fell 1.6% as fears of a storm-induced production slowdown on the Gulf Coast subsided. Gold rose 0.4%, aided by the weaker USD."