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| - Stock markets failed to mount a rebound Tuesday, after dropping sharply the day before on fears that a coronavirus resurgence will force fresh economically painful containment measures. Traders have also given up almost any hope for a new US stimulus package being passed before next Tuesday's election, with Democrats and Republicans blaming each other, though there are still expectations a new deal will be agreed afterwards. The prospects of US lawmakers approving another round of stimulus has kept stock markets buoyant for weeks, but the US Senate wrapped up its session on Monday. "This means that investor sentiment will be dominated by the resurgent coronavirus until at least the election day, as well company earnings," said Fawad Razaqzada, a market analyst with ThinkMarkets. On Wall Street, the Dow was down 0.3 percent in midday trade, a day after it suffered its worst session since early September, dropping more than two percent. The Nasdaq Composite was in positive territory thanks to gains in the tech sector, driven by a blockbuster $35-billion acquisition by Advanced Micro Devices, a leading maker of computer chips. European stocks added to hefty losses on Monday as more nations move towards imposing tougher restrictions and even lockdowns in order to slow the spread of coronavirus but which would cause even more economic pain. London ended the day down 1.1 percent, while Frankfurt shed 0.9 percent and Paris lost 1.8 percent. Asia's leading indices closed mixed. Oil prices rebounded after steep falls Monday, while the dollar dropped versus its main rivals. Further lockdowns could trigger widespread job losses as many companies can no longer hold out, analysts fear. "The second and third wave spread of Covid-19 is possibly triggering a point of no return for some industries as the economic damage borders on irreversible," said Axi strategist Stephen Innes. With an eye on next week's vote, he added: "We should expect price action to remain choppy in the days ahead, with investors very reluctant to put on any significant risk ahead of what promises to be a headline heavy week or two." With the pandemic fuelling demand for computers and video game consoles as people rely on the internet to work, learn, and play more at home, Advanced Micro Devices announced a deal to buy computer chip-making rival Xilinx for $35 billion. Shares in AMD fell 3.6 percent even though the company also said that third-quarter profit more than tripled from a year ago to $390 million as revenue grew 56 percent to $2.8 billion, beating expectations. A number of leading US companies posted earnings reports that beat expectations, including Caterpillar, 3M, Pfizer and Merck. But analysts at Charles Schwab brokerage said that, at this point for investors, "actual earnings numbers may be less important than what corporate leaders say about their expectations" for the future. Given the amount of uncertainty, many companies are not providing full-year guidance on their earnings, however. London - FTSE 100: DOWN 1.1 percent at 5,728.99 points (close) Frankfurt - DAX 30: DOWN 0.9 percent at 12,063.57 (close) Paris - CAC 40: DOWN 1.8 percent at 4,730.66 (close) EURO STOXX 50: DOWN 0.9 percent at 3,077.31 New York - Dow: DOWN 0.3 percent at 27,596.02 Tokyo - Nikkei 225: FLAT at 23,485.80 (close) Hong Kong - Hang Seng: DOWN 0.5 percent at 24,787.19 (close) Shanghai - Composite: UP 0.1 percent at 3,254.32 (close) Euro/dollar: UP at $1.1831 from $1.1808 at 2115 GMT Dollar/yen: DOWN at 104.43 yen from 104.84 yen Pound/dollar: UP at $1.3069 from $1.3021 Euro/pound: DOWN at 90.52 pence from 90.67 pence West Texas Intermediate: UP 2.6 percent at $39.56 per barrel Brent North Sea crude: UP 2.2 percent at $41.34 per barrel burs-rl/spm
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