Bangkok(AP): World shares fell and oil prices edged lower as investors braced Monday for an expected invasion by Israel in the Gaza Strip.

The futures for the S&P 500 and the Dow industrials edged 0.1% higher. Germany's DAX shed 0.5% to 15,104.87 and the CAC 40 in Paris declined 0.5%, to 6,965.51. Britain's FTSE 100 was down 0.1% at 7,589.92.

Israeli forces, supported by a growing deployment of US warships in the region and the call-up of some 360,000 reservists, have positioned themselves along Gaza's border and drilled for what Israel said would be a broad campaign to dismantle the Hamas.

"Who can blame markets for being jittery," RaboResearch Global Economics and Markets said in a commentary. "The world now holds its breath as Israel prepares for a full-scale ground invasion of Gaza, with only unseasonal torrential rain delaying the seemingly inevitable."

The conflict has jolted oil markets, adding to uncertainties already hanging over the global economic outlook. The Gaza region is not a major producer of oil, but the fear is that the violence could spill into the politics around the crude market and eventually lead to disruptions in the flow of petroleum, with broad ramifications for many industries.

On Friday, the price of a barrel of benchmark US crude oil jumped 4.78 to settle at 87.69. Brent crude, the international standard, climbed 4.89 to 90.89 per barrel. Early Monday, US crude oil was down 17 cents at 87.52 per barrel. Brent gave up 28 cents to 90.61 a barrel.

Worries about the state of the US economy have also undermined recent optimism over the possibility that the Federal Reserve might halt its interest rate hikes aimed at quashing inflation.

Persisting inflationary pressures along with higher oil prices are casting doubts on that, and threatening the "'remarkable resilience' of the US economy, which buoyed stock markets until a few months ago," Stephen Innes of SPI Asset Management said in a report.

In Asian trading Monday, Tokyo's Nikkei 225 sank 2% to 31,659.03 and the Hang Seng in Hong Kong lost 1% to 17,640.36. South Korea's Kospi declined 0.8% to 2,436.24.

The Shanghai Composite index was 0.5% lower, at 3,073.81, while Bangkok's SET skidded 2.1%. Australia's S&P/ASX 200 was down 0.4% at 7,026.50.

On Friday, US stocks mostly fell as they were buffeted by competing waves of optimism and fear.

The S&P 500 slipped 0.5% to 4,327.78 and the Nasdaq composite fell 1.2% to 13,407.23. The Dow industrials edged up 0.1% to 33,670.29.

Worries about the war pulled Treasury yields lower, which often happens when investors head for safer investments during times of stress. The yield on the 10-year Treasury fell to 4.63% from 4.70% late Thursday.

Yields also eased after another official at the Federal Reserve said the central bank may be done hiking its main interest rate following a blistering campaign that began early last year.

Several US banking giants said their profits during the summer were better than feared, which offered hope on Wall Street for an earning reporting season that may deliver the first growth for big companies in a year.

JPMorgan Chase rose 1.5% after its profit for the third quarter climbed 35% from a year earlier. It benefited from a rise in interest rates, but its CEO Jamie Dimon also warned that "this may be the most dangerous time the world has seen in decades".

Wells Fargo rose 3.1% after it likewise topped analysts' expectations for profit during the summer quarter.

UnitedHealth Group beat Wall Street's profit expectations, and its stock climbed 2.6%.

Dollar General jumped to the biggest gain in the S&P 500, up 9.2%, after it said Todd Vasos will be returning as CEO.

In currency dealings early Monday, the US dollar was unchanged at 149.55 yen. The euro rose to 1.0535 from 1.0515.

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Bengaluru: The results of the by-elections in three constituencies do not represent a mandate for the state government, said MP Basavaraja Bommai, adding that ruling party MLAs are dissatisfied with the lack of development in the state.

Speaking to the media at the BJP office on Tuesday, he stated that by-elections typically favor the ruling government. "When we were in power, we won 13 out of 17 by-elections. The Congress should not assume that this is a verdict in their favor," he remarked.

Bommai emphasized that these results are confined to the constituencies where the by-elections were held. He also accused the state government of poorly implementing its guarantee schemes without adequate financial preparation, claiming that the schemes are being halted due to financial strain.

He alleged that Chief Minister Siddaramaiah's government has borrowed over ₹1 lakh crore, leading to difficulties in financial management. Bommai pointed out that the state government is yet to release over ₹2,000 crore to local bodies, including village panchayats, as recommended by the 15th Finance Commission.

"Anganwadi workers and contract workers are not receiving their salaries, and contractors are refusing to take up work due to non-release of funds, even after tenders have been floated," he added.

Responding to questions about internal dissent within the BJP, Bommai denied any significant issues, stating, "There is no dissent in the BJP. Everyone is committed to the party. There may be differing opinions on some matters, but I am confident that everything will be resolved within a month." He also noted that a motivated BJP team is actively working for the party.

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