(Bloomberg) — Asian looked set to follow U.S. stocks lower after President Donald Trump said he is ending stimulus talks until after next month’s election. Treasuries gained.Futures in Japan and Australia declined and the S&P 500 fell over 1%. Trump’s comment came just hours after Federal Reserve Chairman Jerome Powell renewed his warning that the economy will stumble without additional support. Treasury yields fell and the dollar jumped against most of its major peers. Nasdaq futures slipped after a House panel proposed a series of far-reaching antitrust reforms to curb the power of U.S. technology giants including Amazon.com and Alphabet Inc. Meantime, Australia’s 3-year bond yield dropped to an all-time low as the nation planned to issue less debt than estimated. Volatility has picked up this month after Trump contracted the coronavirus and investors weighed the likelihood of a stimulus deal. House Speaker Nancy Pelosi had called on Republicans to get on board with a version of the bill the House passed last week with only Democratic votes. But significant gaps remained between the Democrats’ $2.2 trillion proposal and a $1.6 trillion offer backed by the White House.“It was certainly a surprise to the market that had started to price in another stimulus,” Ed Clissold, chief U.S. equity strategist at Ned Davis Research, said in an interview on Bloomberg TV. “It’s going to be difficult for the economy to gain much traction until there is another round of stimulus.”Meanwhile, with Trump now out of hospital investors continue to monitor the virus’s impact on economic recoveries around the world. German new cases jumped the most since April and Italy is set to order stricter rules.Here are some key events coming up:On Wednesday, the minutes of the Sept. 15-16 meeting of the FOMC could be especially fruitful for Fed watchers, beginning with details of the debate on conditions necessary to trigger a rate increaseThe U.S. Vice Presidential debate takes place in Salt Lake City on WednesdayThough the final formal round of talks is over, the British government expects trade negotiations to continue up to the EU summit in mid-October.These are some of the main moves in markets:StocksS&P 500 lost 0.4% as of 7:08 a.m. in Tokyo. The index fell 1.4% on Tuesday.Futures on Japan’s Nikkei 225 lost 1.2%.Futures on Australia’s S&P/ASX 200 Index declined 0.3%.CurrenciesThe Bloomberg Dollar Spot Index rose 0.4%.The yen was at 105.61 per dollar.The offshore yuan traded at 6.7475 per dollar.The euro bought $1.1735.BondsThe yield on 10-year Treasuries fell four basis points to 0.74%.Austraila’s 3-year yield dropped four basis points to 0.12%. CommoditiesWest Texas Intermediate crude slid 2.4% to $39.70 a barrel.Gold was at $1,878.10 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.