Market Turmoil: Global Stocks Wobble Amid Election Uncertainty and Oil Price Surge

Global stock markets closed the week on a lower note amid election-related unease, with oil prices climbing due to Middle East conflicts. The U.S. elections see Trump and Harris in close competition in pivotal states. Analysts see investor anxiety impacting financial trends amidst potential geopolitical tensions.

Global stock markets faced a downturn at week's end, driven by apprehensions over the U.S. elections, while oil prices increased due to conflict in the Middle East. In pivotal swing states, the polls show a tight race between Republican Donald Trump and Democratic Vice President Kamala Harris, heightening investor unease about possible contested results and subsequent market disturbances.

The S&P 500 saw a minor decline, ending the week nearly 1% lower, impacted by losses in utilities and financial sectors, though bolstered by tech and communication stock gains. The Dow Jones dipped by 0.61% to 42,114.40, the S&P 500 fell slightly to 5,808.12, and the Nasdaq rose by 0.56% to 18,518.61, as mixed trends persisted across indices.

Globally, European and Asian shares also registered losses, with European indices dropping 1.2% over the week. Analyst Keith Lerner attributed market instability to past substantial gains conflicting with high sustained interest rates. In commodity markets, Brent crude futures surged to $76.05 a barrel, signaling oil's crucial role amidst geopolitical risks.

(With inputs from agencies.)