As of about 12:45 PM IST, Tuesday 3 November 2026. Figures are attributed to the sources that published them; anything not independently confirmed is flagged.
US stocks ended mixed on Monday 2 November. A morning rally faded as technology shares stayed under pressure, while a plunge in oil prices on hopes for US-Iran diplomacy lifted "old economy" stocks. In Asia on Tuesday, Korean shares fell sharply, Japan was closed for a holiday, and markets were cautious as Americans began voting in the midterm elections.
Wall Street close (Monday 2 November)
- Dow Jones Industrial Average: up 213.67 points, or 0.41%, to 51,983.98
- S&P 500: down 38.67 points, or 0.51%, to 7,541.40
- Nasdaq Composite: down 272.68 points, or 1.07%, to 25,164.32
CNBC reported that the Nasdaq and S&P 500 had been up as much as 1.4% and 1.1% earlier in the session.
Movers
- Marvell and Lumentum: down nearly 13% and about 18% after Marvell agreed to buy Lumentum in a $115 billion all-stock deal.
- Oracle: down 8% after saying it plans to sell $10 billion of common stock and $10 billion of bonds to fund its AI buildout, per CNBC.
- Dow gainers: Sherwin-Williams rose almost 6% and Home Depot 3.6%. Honeywell, 3M and Boeing each gained more than 2%.
- Apple: closed nearly 2% lower before its results, then fell about 2.8% to 3% after hours on a weaker gross margin forecast, despite record September-quarter revenue of $114.5 billion.
Oil and bonds
US crude futures fell $7.66, or 7.4%, to $96.46 a barrel, MarketWatch reported, after Iran's foreign minister said talks with Qatari mediators on reopening the Strait of Hormuz were continuing. Brent was about $104.72 in Asian trade on Tuesday, little changed, according to Reuters. Reuters also cited a Wall Street Journal report that the US military struck Iran's Qeshm Island; that report could not be independently confirmed. The US 10-year Treasury yield was up about 2 basis points at 4.913% in Asia, Reuters said.
Asia on Tuesday 3 November
- Kospi: fell 2.46% to 5,715 in early trade (RTHK), with Korean shares down as much as 3.8% at one point (Reuters via Business Times), as chip stocks slid.
- Hang Seng: opened up 0.33% at 23,469, bucking the regional trend.
- Shanghai Composite: opened 0.37% lower at 3,624.
- Taiwan: down 1.3%.
- Japan: closed for a public holiday.
- Australia: up 0.1% ahead of a Reserve Bank of Australia decision; a 25 basis point hike to 4.85% is widely expected, according to Reuters.
- China: the People's Bank of China said it would raise the foreign exchange deposit reserve ratio to 6% from 4% from 15 November.
Election Day in focus
"Tuesday will be nothing more than the day ahead of a much bigger day," ING analysts wrote, as quoted by Reuters, pointing to the midterm results and the US Treasury's quarterly refunding announcement on Wednesday. Reuters said prediction markets Polymarket and Kalshi put the chance of Democrats winning the Senate at around 75%. MUFG cautioned that prediction markets "can misprice political tail risks". These are market odds, not results; results are expected from Wednesday morning in Asia.
What to watch
- US midterm results and any market reaction to a split or unified Congress.
- The RBA decision and the US Treasury's refunding announcement.
- Oil, as US-Iran diplomacy continues alongside reports of new strikes.
Disclaimer: This article is for information only and is not financial or investment advice. Markets are volatile; do your own research or consult a qualified adviser before making investment decisions.
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