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Stocks Fall, Bonds Rise After Fed as Election Looms; Oil Tumbles

  • Fed sets up possible December move while leaving rates on hold
  • Asian index futures signal losses; Facebook slips after market
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Fed Leaves Rates Unchanged While Setting Up Possible Move

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Equities dropped, while Treasuries rallied after the Federal Reserve’s decision to stand pat on monetary policy did little to reduce market anxiety ahead of the U.S. presidential election. Oil extended its slide.

The S&P 500 Index capped its longest run of losses since 2011 as European shares fell for an eighth straight day, with traders piling into haven assets such as bonds, gold and the yen. Meanwhile, Mexico’s peso -- which is seen as a barometer for market perceptions of the presidential vote -- slid after the latest polls showed the race tightening. Oil sank as a record increase in U.S. stockpiles boosted pressure on OPEC to reduce production.