* USD index ticks up, set for sharp weekly gain
* Crude prices set for double-digit weekly percentage loss
* Graphic: Stocks, oil, COVID-19: https://tmsnrt.rs/35Q1ncm
(Updates to U.S. stock market close)
By Rodrigo Campos
NEW YORK, Oct 30 (Reuters) - Stocks across the globe resumed
their slide on Friday and oil posted a double-digit weekly fall
on continued concern over the economic impact of rising global
coronavirus infections and ahead of Tuesday's U.S. presidential
election.
Global coronavirus cases rose by over 500,000 for the first
time this week, with France and Germany preparing fresh
lockdowns while a record surge of U.S. cases is pushing
hospitals to the brink of capacity and killing up to 1,000
people a day. Underwhelming outlooks and results from some of Wall
Street's largest companies, including Apple AAPL.O and
Facebook FB.O , further soured the mood and dragged U.S. stocks
lower.
"There is a big selloff in those big tech names because they
didn't live up to the hype and people are really worried about
next week's election," said Kim Forrest, chief investment
officer at Bokeh Capital Partners in Pittsburgh.
Ahead of the last campaign weekend, Republican President
Donald Trump trails Democratic challenger Joe Biden in national
opinion polls, as he has done for months, partly because of
widespread disapproval of Trump's handling of the coronavirus.
Opinion polls in the most competitive states that will
decide the election have shown a closer race, still favoring
Biden. The Dow Jones Industrial Average .DJI fell 157.51 points,
or 0.59%, to 26,501.6, the S&P 500 .SPX lost 40.15 points, or
1.21%, to 3,269.96 and the Nasdaq Composite .IXIC dropped
274.00 points, or 2.45%, to 10,911.59.
The S&P fell 5.6% this week and nearly 3% in October.
The pan-European STOXX 600 index .STOXX edged up 0.18% on
the day but also lost 5.6% this week. MSCI's gauge of stocks
across the globe .MIWD00000PUS shed 1.16% on Friday and lost
5.3% this week. Emerging market stocks .MSCIEF posted a weekly
3% decline.
Oil prices fell for the fourth time this week, weighed by
demand concerns as COVID-19 cases swelled globally and fresh
lockdowns were to start in Europe's two largest economies.
"Many nations with high oil consumption across the world are
seeing infection levels that they didn't have even during the
first wave," said Paola Rodriguez-Masiu, Rystad Energy's senior
oil markets analyst.
"These infection levels are destined to bite oil demand, as
traffic will be curbed to a minimum during the coming
lockdowns."
U.S. crude CLc1 fell 1.38% to $35.67 per barrel and Brent
LCOc1 was at $37.45, down 0.53% on the day. Both fell over 10%
this week alone.
The oil weakness led to a sell-off of some commodity-linked
currencies, including the Russian rouble RUB= .
The dollar index, measuring the greenback against a basket
of peers, ticked up for the day and posted its second weekly
gain of over 1% in more than six months as its safe-haven appeal
shone.
On the day, the dollar index =USD rose 0.152%, with the
euro EUR= down 0.25% to $1.1645.
The Japanese yen weakened 0.05% versus the greenback at
104.68 per dollar, while the British pound GBP= was last
trading at $1.2953, up 0.21% on the day.
A risk-on revival after the U.S. election could however see
the dollar resume its slide from the March highs.
"Our month-end models show a backdrop that would favor a
slightly weaker dollar," said Mazen Issa, senior currency
strategist at TD Securities in New York.
Longer-dated Treasury debt sold off, steepening the yield
curve to the widest since June, as investors anticipated the
deluge of supply that would come from a post-election stimulus
package. US/
The 30-year bond US30YT=RR last fell 28/32 in price to
yield 1.6633%, from 1.625% late on Thursday.
Benchmark Treasury yields ticked up, with 10-year notes
US10YT=RR last down 12/32 in price to yield 0.8754%, from
0.836%. The 2-year note US2YT=RR was little changed on the
day.
Spot gold XAU= added 0.6% to $1,877.90 an ounce. Silver
XAG= gained 1.53% to $23.63.
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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
Stocks and oil vs. coronavirus cases https://tmsnrt.rs/35Q1ncm
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