Australian shares are expected to drop, as nervous global investors took money off the table hours before the first US presidential debate.
The Australian dollar had lifted to 71.3 US cents.
"Right now, markets are clearly driven by events in Washington, be it fiscal stimulus or the presidential election."The broader S&P 500 fell to 3,335, while the tech-heavy Nasdaq slipped to 11,085 points. However, Goldman Sachs analysts expected a Democratic sweep of the White House and both chambers of Congress would be beneficial to S&P 500 profits through 2024.
"But concern is rising about having a clear election winner in November due partly to so many mail-in ballots, which will take time to count."
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