GLOBAL MARKETS-Stocks, dollar slide as Trump's election tweet, GDP figures rattle markets

(Revises lead, updates live markets data)
By Lawrence Delevingne
BOSTON, July 30 (Reuters) - Stock markets, oil prices and
the dollar all slid on Thursday after President Donald Trump
raised the possibility of delaying the November U.S. election
and new government data underscored the coronavirus' deep
economic impact.
Trump, without evidence, repeated his claims of mail-in
voter fraud and raised the question of a delay, writing in a
post on Twitter, "delay the election until people can properly,
securely and safely vote???" “It's moved the market, for sure," said Priya Misra, head of
global rates strategy at TD Securities in New York. "Not only do
we have uncertainty about who wins, I think we have uncertainty
about the process.”
A report on additional jobless claims and collapsed gross
domestic product had already set Wall Street up to open
lower. The MSCI world equity index .MIWD00000PUS , which tracks
shares in 45 nations, fell 6.24 points or 1.1%, to 549.23.
On Wall Street, the Dow Jones Industrial Average .DJI fell
357.63 points, or 1.35%, to 26,181.94, the S&P 500 .SPX lost
34 points, or about 1%, to 3,224.44, and the Nasdaq Composite
.IXIC dropped 61.21 points, or 0.58%, to 10,481.74.
Dismal earnings reports and weaker-than-expected German GDP
data added to an already sour mood in Europe, with the STOXX 600
.STOXX slipping about 2.25%.
Earlier gains in Asian shares were undone, with MSCI's
broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS closing 0.17% lower, while Japan's Nikkei
.N225 lost 0.26%.
U.S. gross domestic product collapsed at a 32.9% annualized
rate last quarter, slightly less than expected, but still the
deepest decline in output since the government started keeping
records in 1947, the Commerce Department said on Thursday.
"The fact that it was better than expected maybe is a good
thing, but certainly not much better, and it's still a terrible
number," said Randy Frederick, vice president of trading and
derivatives with the Schwab Center for Financial Research.
The worries came despite news on Wednesday that all U.S.
Federal Reserve members voted as expected to leave the target
range for short-term interest rates between 0% and 0.25%, where
it has been since March, and use its "full range of tools" if
needed. Investors must now watch negotiations in Washington, DC over
a new coronavirus relief package for the world's largest
economy.
U.S. President Donald Trump said on Wednesday that his
administration and Democrats in Congress were still "far apart"
on a new coronavirus relief bill. A failure to
agree risks letting a $600-per-week unemployment benefit lapse
when it expires this week.
In currencies, the dollar index .DXY , which tracks the
greenback versus a basket of six major currencies, fell 0.119
points, or 0.13%, to 93.334, and remains on course for its worst
monthly performance in a decade. USD/
The dollar =USD has fallen on expectations the Fed will
maintain its ultra-loose monetary policy for years to come and
on speculation it will allow inflation to run higher than it has
previously indicated before raising interest rates.
The dollar's weakness has further supported the euro EUR= ,
which was down 0.07% at $1.1782.
Treasuries Benchmark 10-year notes US10YT=RR rose 11/32 in
price to yield 0.5446%, from 0.581% late on Wednesday.
Oil prices fell amid concern that surging coronavirus
infections worldwide would jeopardize a recovery in fuel demand.
O/R U.S. crude CLc1 recently fell 3.63% to $39.77 per barrel
and Brent LCOc1 was at $42.49, down 2.88% on the day.
Spot gold XAU= dropped 1.5% to $1,941.23 an ounce.

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