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World markets painted a messy picture on Tuesday, with recently pumped-up crude oil prices retreating sharply and disappointment surrounding China's economic stimulus already setting in - knocking Hong Kong shares back almost 10%. The return of mainland Chinese markets after a week's holiday there did see the CSI300 index play catch-up with another jump of about 6%. Chinese officials said they were fully confident of achieving this year's 5% GDP growth target.

The U.S. Federal Reserve is encouraging banks to count on its long-shunned cash backstops in a bid to support its monetary policy and financial stability goals. The Fed’s discount window and the Standing Repo Facility (SRF) are credit backstops where lenders can get cash against collateral such as Treasury bonds.

Harris and Trump are trying to reshape investment and redistribute income and economic activity to their favored sectors.

Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used an obscure clause to reroute U.S. shipments from Europe, in a practice that raises doubts over whether reforms to the crude price marker have succeeded. Brent, the most significant benchmark across commodity markets, is used to price more than 60% of globally traded crude and underpins oil futures. Platts, a unit of S&P Global Commodity Insights, last year allowed U.S. WTI Midland crude delivered to Europe to be included in its Brent price assessment, called dated Brent.

Workers began walking picket lines early Tuesday in a strike over wages and automation even though progress had been reported in contract talks. The contract between the ports and about 45,000 members of the International Longshoremen’s Association expired at midnight. Workers at the Port of Philadelphia walked in a circle outside the port and chanted “No work without a fair contract.”

Inflation in the 20 countries that use the euro fell to 1.8% in September, below the European Central Bank's target of 2% for the first time in more than three years as falling energy prices give consumers relief from a burst of inflation that at one point reached into double digits. Tuesday's official figure coupled with an anemic growth outlook could pave the way for faster interest rate cuts from the ECB, which has already trimmed rates twice. Inflation fell from 2.2% in August, according to European Union statistics agency Eurostat.

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