(Updates to afternoon U.S. trading, adds settled oil prices)
* Wall St. dips; European stocks fall for 7th straight day
* Dollar tumbles to more near three-week low against euro
* Trump gaining on Clinton as campaign enters final week
* Treasuries steady as traders await Fed meeting
* Oil hits one-month low
By Saqib Iqbal Ahmed
NEW YORK, Nov 1 (Reuters) - Global equity prices and the dollar fell sharply on Tuesday as investors sought safe havens amid mounting uncertainty about next week's U.S. presidential election.
Treasuries were steady, erasing earlier weakness, as falling stocks increased demand for bonds, while oil prices fell to one-month lows.
MSCI's 47-country "All World" index .MIWD00000PUS was down 0.54 percent, dragged down by weakness on Wall Street.
The S&P 500 .SPX dipped to near a four-month low as investors appeared to fret about the outcome of the U.S. presidential election.
"I think that it's a combination of uncertainty over the impact of the election and the uncertainty of what higher interest rates mean for segments of the market," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
"That combination has just made investors a little bit more reluctant to hold stocks here," he said.
Democrat Hillary Clinton held a five-percentage-point lead over Republican Donald Trump, according to a Reuters/Ipsos opinion poll released on Monday, down only slightly since the FBI said last week it was reviewing new emails in its investigation of Clinton ahead of the Nov. 8 election. a poll by ABC News showed Trump leading by one point and the Los Angeles Times put the Republican candidate more than two points ahead.
"The market was very certain that Hillary Clinton was going to win the election, and to the extent that doubts creep into that, it is not good for the stock market," said Stephen Massocca, chief investment officer at Wedbush Equity Management LLC in San Francisco.
The Dow Jones industrial average .DJI fell 158.06 points, or 0.87 percent, to 17,984.36, the S&P 500 .SPX lost 21.87 points, or 1.03 percent, to 2,104.28 and the Nasdaq Composite .IXIC dropped 57.57 points, or 1.11 percent, to 5,131.57.
European shares fell for the seventh straight session. Standard Chartered shares STAN.L fell more than 5 percent after underwhelming results. broad FTSEurofirst 300 index .FTEU3 closed down 1 percent at 1,324.54.
The U.S. dollar hit its lowest level in nearly three weeks against the euro EUR= on U.S. political uncertainty, while the Mexican peso MXN= hit a more than three-week low on positioning for a potential victory for Trump. Clinton win is generally seen by analysts as likely to be a positive for the dollar. But news on Friday that the Federal Bureau of Investigation was probing newly found emails related to Clinton's use of a private server continued to shake traders' confidence in the outcome of the election. market has built up some dollar longs and euro shorts in recent weeks, and with Friday's news increasing the uncertainty around the election outcome, we suspect market participants are cutting back" on those positions, said Vassili Serebriakov, FX strategist at Credit Agricole (PA:CAGR) in New York.
In bond markets, Treasuries were steady, erasing earlier weakness, ahead of the conclusion of the Fed's two-day policy meeting on Wednesday. see only a small chance that the Fed will raise rates on Wednesday, but traders will be scouring its statement for clues on the timing of its next rate hike.
Ten-year notes US10YT=RR were up 4/32 in price to yield 1.82 percent, down from 1.83 percent on Monday.
Oil fell 1 percent, hitting one-month lows, as U.S. gasoline prices pared an early rally sparked by a pipeline blast and crude was also pressured by renewed doubts about whether OPEC will follow through with proposed output cuts. crude LCOc1 settled down 47 cents, or 0.97 percent, at $48.14 a barrel, while U.S. crude CLc1 settled down 19 cents, or 0.41 percent, at $46.67.
Gold rose the most in nearly six weeks to hit a one-month high as the dollar retreated. Spot gold prices XAU= were up 1.04 percent to $1,290.51 an ounce.