SQUAWK BOX, TUESDAY 20TH OCTOBER, 2020

UBS says it had its best pre-tax Q3 profit in a decade but warns that political instability may result in increased market volatility. U.S. investors wait on stimulus talks ahead the Democrat-imposed deadline for negotiations. But diminished hopes of a deal led US markets to close in the red with the Nasdaq recording its fifth negative session in a row for the first time since 2019. Markets will also keep an eye on the U.S. presidential elections, after it is revealed that the third and final debate between President Trump and his Democrat rival Joe Biden will feature a mute button to avoid interruptions. And in tech news, South Korea’s SK Hynix buys Intel’s memory chip unit for $9bn.