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Stocks edge lower as markets stay careful, with gold rates at brand-new highs

Global equity markets were lower on Monday as investors hedged their positions in the middle of rising geopolitical tensions and unpredictability over the U.S. presidential election, even as gold prices reach new highs.

The Israeli armed force is continuing its attacks against Lebanon's Hezbollah militant group, with numerous Beirut homeowners fleeing their homes late on Sunday as surges rocked the Lebanese capital. Gold prices rose to a record high on Monday and were up 0.07% to $2,722.16 an ounce.

All 3 primary Wall Street indexes were trading lower, with protective stocks, including realty and customer discretionary stocks, among the leading drags out the benchmark S&P 500 index.

The Dow Jones Industrial Average fell 0.76% to 42,946.87, the S&P 500 fell 0.54% to 5,832.71 and the Nasdaq Composite fell 0.42% to 18,412.33.

The European shares index was likewise down, 0.61%,. while MSCI's gauge of stocks around the world. fell 0.61% to 851.51.

I think in between the mix of intensifying or still-high. Middle East stress and we're only a handful of days far from. the (Nov. 5 U.S. election), it might be that the marketplace is. getting anxious ahead of that and people are squaring a few of. their positions, said Wasif Latif, president and chief. investment officer at Sarmaya Partners.

Oil rates acquired following a more than 7% drop recently. Brent unrefined futures were last up 0.85% at $73.68 a. barrel, while U.S. West Texas Intermediate crude futures. rose 1.1% to $69.91.

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(source: Reuters)