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Global Shares Fall Back                10/30 05:41

   Global stocks and U.S. futures sank Friday as investors looked ahead to next 
week's American presidential election and weighed the chances of economic aid 
from Washington and Europe.

   BEIJING (AP) -- Global stocks and U.S. futures sank Friday as investors 
looked ahead to next week's American presidential election and weighed the 
chances of economic aid from Washington and Europe.

   London and Frankfurt opened lower, while Tokyo, Hong Kong and Seoul all 
declined. Shanghai closed lower after swinging between gains and losses.

   Investors have been dismayed by a lack of progress in talks between the 
White House and Congress on new U.S. stimulus. Hopes for action ahead of 
Tuesday's election and potential wrangling over the outcome have diminished.

   "The market is still in search of that elusive stimulus lifeline in this 
mishmash of pre-election de-risking," Stephen Innes of Axi said in a report.

   In early trading, the FTSE 100 in London lost 0.7% to 5,542.62 and 
Frankfurt's DAX was 1.1% lower at 11,470.85. The CAC 40 in France retreated 
0.9% to 4,528.95.

   On Wall Street, futures for the S&P 500 index and the Dow Jones Industrial 
Average were down 1.8%.

   In Asia, the Nikkei 225 in Tokyo fell 1.5% to 22,977.13 and the Hang Seng in 
Hong Kong lost 2.1% to 24,073.72.

   The Shanghai Composite Index sank 1.5% to 3,224.53. It swung between gains 
and losses after the ruling Communist Party said Thursday it wants to make a 
China a self-reliant "technology power" amid a feud with Washington that is 
hampering access to high-tech components.

   The Kospi in Seoul retreated 2.6% to 2,267.15 and Sydney's S&P-ASX 200 was 
0.6% lower at 5,927.60.

   India's Sensex lost 0.9% to 39,404.79. New Zealand, Singapore and Bangkok 

   On Thursday, the S&P 500 rose 1.2%, helped by a rebound for tech stocks as 
the market steadied after its worst drop in four months.

   The index fell 3.5% on Wednesday on worries an upsurge in coronavirus 
infections could drag down the economy again.

   Traders welcomed data that showed the number of U.S. workers applying for 
unemployment benefits eased last week to 751,000. That was down from the 
previous week's 791,000 and better than economists expected.

   The Dow Jones Industrial Average gained 0.5% while the tech-heavy Nasdaq 
composite climbed 1.6%.

   In Washington, House Speaker Nancy Pelosi sent a letter to Treasury 
Secretary Steven Mnuchin listing topics in their stimulus negotiations on which 
she is awaiting a reply. They include benefits for laid-off workers and 
measures on coronavirus testing.

   Also Thursday, the head of the European Central Bank said there's "little 
doubt" it will deliver more stimulus in December.

   In China, the ruling party said Thursday its next five-year development plan 
starting next year will emphasize self-reliance in technology.

   The party gave no details but aid to technology developers could help 
Chinese makers of smartphones and other products that face possible difficulty 
in obtaining U.S. components after the Trump administration imposed export 
restrictions in a fight over security, spying and Beijing's development plans.

   Coronavirus case numbers are rising in the United States and Europe, 
increasing worries that restrictions on business might be re-imposed. Retailers 
worry customers might stay away even if sweeping lockdowns don't come back.

   In energy markets, benchmark U.S. crude lost 31 cents to $35.86 per barrel 
in electronic trading on the New York Mercantile Exchange. The contract fell 
$1.22 on Thursday to $36.17. Brent crude, the price standard for international 
oils, declined 39 cents to $37.87 per barrel in London. It lost $1.47 the 
previous session to $37.65.

   The dollar declined to 104.33 yen from Thursday's 104.67 yen. The euro 
advanced to $1.1681 from $1.1671.

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