S&P 500 futures drop by 350 points as Trump warns of delay in election outcome

Risk sentiment weakens as President Trump warns of delay in the election outcome.
The US stock futures drop, putting a bid under the US dollar.

The US stock futures erased early gains and fell into the red on Wednesday after US President Donald Trump said that the Nov. 3 election result might not be known for months.

"We might not know for months," Trump said during the first presidential debate, adding later that "this is not going to end well."

The S&P 500 futures declined from the session high of 3,357 to 3,314 – a 43 point drop – reviving demand for the safe-haven US dollar.

EUR/USD fell from 1.1755 to 1.1730 and gold declined to $1,890 from $1,900.

Essentially, risk appetite weakened on heightened prospects of the uncertain election outcome.

Futures had ticked higher in early Asia following the release of a better-than-expected China manufacturing data.

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