Stocks fell the day before the 2024 presidential election, as investors wondered what impact a new administration will have on the market's trajectory. The Dow dropped more than 250 points, logging its fourth loss in five sessions while the S&P 500 and Nasdaq also settled firmly lower despite several strong earnings reports. The 10-year Treasury yield rallied as traders looked to reduce risk, with the Federal Reserve's interest rate decision also coming out later this week.

Oil Prices Pop After OPEC Delays Production

Oil prices moved higher on Monday after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) delayed an output hike for another month. December-dated West Texas Intermediate (WTI) crude rose $1.98, or 2.9%, to settle at $71.47 per barrel for the session.

Gold prices moved slightly lower, as investors prepared for the U.S. election and kept an eye on the Federal Reserve ahead of its policy meeting. Gold for December delivery lost 0.03% to settle at $2,748.50 an ounce.

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