GLOBAL MARKETS-Asian investors prepare for choppy trade as U.S. stimulus talks drag on

By Jessica DiNapoli
NEW YORK, Oct 21 (Reuters) - Asian investors prepared for
rough trading on Thursday after a bumpy session on Wall Street
amid fears that agreement on a key U.S. stimulus bill will not
be reached until after the presidential election on Nov. 3.
In early Asian trade, Australian stocks .AXJO fell at the
open.
"We're looking at a fairly rough day for regional investors,
we had a volatile session in the U.S.," said Michael McCarthy,
chief markets strategist at CMC Markets in Sydney. "Futures
markets are reflecting a worse day here. We'll see losses across
the region."
MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.06%.
On Wednesday, the Nikkei 225 index .N225 closed up 0.31%
at 23,639.46. The futures contract is down 0.31% from that
close.
Hong Kong's Hang Seng index futures .HSI .HSIc1 were up
0.32%.
Wall Street's three major averages closed lower on Wednesday
after a choppy trading session, as investors eyed difficult
negotiations in Washington for a fresh coronavirus stimulus
package. The Dow Jones Industrial Average .DJI inched lower by
0.35%, while the S&P 500 .SPX lost 0.22%. The tech-heavy
Nasdaq Composite .IXIC dropped 0.28%.
U.S. lawmakers had not reached an agreement on the stimulus
package by late Wednesday. President Donald Trump blasted
Democrats in a Tweet, accusing them of being unwilling to
compromise, despite earlier reports of progress. L1N2HC1JV
The dollar hit a seven-week low on Wednesday against a
basket of currencies, while benchmark U.S. Treasury yields rose
to four-month highs, after Trump and House Speaker Nancy Pelosi
boosted hopes an agreement on stimulus was close.
Oil prices ended lower after U.S. inventories showed demand
weakening for refined products as global COVID-19 cases rose.
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