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US stocks end lower

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UK shares fall as government unveils new budget

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Gold hits all-time high in risk-off mood

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Bitcoin nears record high early

(Updates to 4:30 p.m. ET)

By Caroline Valetkevitch

NEW YORK, Oct 30 (Reuters) - Global stock indexes edged

lower on Wednesday as a disappointing forecast from Advanced

Micro Devices ( AMD ) weighed on chipmakers, while gold prices rose to a

record high as uncertainty ahead of next week's U.S.

presidential election drove safe-haven demand.

British stocks hit their lowest level since

August as UK Finance Minister Rachel Reeves said she would raise

taxes by 40 billion pounds ($52 billion) a year in her first

budget.

Shares of Alphabet rose 2.8% after the company

late on Tuesday reported quarterly revenue that beat estimates.

On the flip side, shares of semiconductor company

Advanced Micro Devices ( AMD ) dropped 10.6% after its revenue

forecasts and artificial intelligence chip sales disappointed

investors. Other chipmakers also slipped, with Nvidia ( NVDA )

down 1.4%.

After the closing bell, shares of Facebook owner Meta

Platforms ( META ) were down 1.5% after it beat analysts'

estimates for third-quarter revenue and profit but warned of

"significant acceleration" in infrastructure expenses related to

its AI buildout. The stock ended the regular session down 0.2%.

Apple ( AAPL ) and Amazon.com ( AMZN ) are due to report results

on Thursday.

"The market is heavily focused on what these (megacap)

companies are going to deliver, their guidance and any signal

that perhaps their purchases of AI-related infrastructure could

change," said Quincy Krosby, chief global strategist at LPL

Financial in Charlotte, North Carolina.

Stocks are up sharply for the year so far, and Krosby said

upbeat results from the megacap companies would help to support

the overall market.

The Dow Jones Industrial Average fell 91.51 points,

or 0.22%, to 42,141.54, the S&P 500 fell 19.25 points, or

0.33%, to 5,813.67 and the Nasdaq Composite fell 104.82

points, or 0.56%, to 18,607.93.

MSCI's gauge of stocks across the globe fell

3.14 points, or 0.37%, to 844.94.

Europe's main stock index fell to its lowest level in over a

month as technology and mining stocks led a broader market

decline. The STOXX 600 index closed 1.3% lower.

The FTSE 100 dropped 0.7%.

Gold rose to an all-time high as uncertainty over the

Nov. 5 U.S. presidential election boosted safe-haven demand.

Spot gold rose 0.5% to $2,788.87 per ounce, after reaching a

record high of $2,789.73 earlier in the session.

A recent

Reuters/Ipsos poll showed Vice President Kamala Harris, a

Democrat, leading Republican Donald Trump 44% to 43% among

registered voters nationally, within the margin of error. Other

opinion polls show tight margins in the seven election

battleground states.

Among riskier assets, bitcoin was down slightly

after surging to near its all-time high from March as investors

weighed the prospect of a victory by Trump, widely seen as

favorable towards crypto.

"Bitcoin has been considered an important barometer for

liquidity in the market," Krosby said, adding that its recent

gains have been "associated with a Trump victory."

Bitcoin was down 0.12% at $72,221.00.

The dollar edged down against other major currencies

after stronger-than-expected U.S. data and the UK budget

release.

Data showed U.S. private payrolls growth surged in October.

The key U.S. jobs report for October is due on Friday.

The U.S. dollar index, which measures the currency

against six major rivals, rose to 104.43 earlier in the session

but was last down 0.17% to 104.06.

Sterling, which fell as much as 0.6% as Reeves

delivered the Labour government's first budget, was last down

0.34% at $1.2971.

The benchmark 10-year Treasury yield pared an earlier

drop and shorter-dated yields rose on the strong U.S. economic

data ahead of Friday's jobs report.

"The economic data this morning was generally good, as

anchored by the first estimate of third-quarter GDP, which

points towards healthy underlying growth and moderating

inflation," said Guy LeBas, chief fixed income strategist at

Janney Montgomery Scott in Philadelphia.

The benchmark 10-year yield was last down 1

basis point at 4.264%, after reaching a nearly four-month peak

of 4.339% on Tuesday.

Employers added an estimated 113,000 jobs in October,

according to economists polled by Reuters, but analysts noted

the number could be lower due to recent hurricanes in areas

including Florida and North Carolina.

Investors were also digesting data showing the euro zone

grew faster than expected last quarter. A separate report showed

the U.S. economy had maintained steady third-quarter growth.

In the energy market, oil prices rebounded from declines

earlier in the week. Data on Wednesday showed U.S. crude and

gasoline inventories fell unexpectedly last week.

Brent crude futures settled up $1.43, or 2.01%, at

$72.55 a barrel. U.S. West Texas Intermediate crude rose

$1.40, or 2.08%, to $68.61.

(Additional reporting by Karen Brettell in New York and Tom

Wilson in London; Editing by David Evans, Richard Chang and

Jamie Freed)