By Riva Gold

-- S&P 500 futures down 0.3%; Stoxx Europe 600 down 0.2%, Nikkei flat

-- 10-year Treasury yield up slightly at 1.828%

-- U.S. crude oil down 0.5%

Stocks, bonds and currency markets were calm Tuesday as polls opened in a fractious U.S. presidential race.

Many investors said they were staying cautious as the outcome remained too close to call.

S&P 500 futures declined 0.3%. The Stoxx Europe 600 fell 0.2% following a muted session in Asia.

In recent sessions, risky assets such as stocks have risen as Hillary Clinton pulled ahead in polls and sold off as the race tightened. Many investors believe stocks would fare better in the sessions immediately following a victory for Mrs. Clinton, while uncertainty around the details of Mr. Trump's policy proposals would send risky assets lower in the short-term aftermath of his election.

"It'll be a careful day of trading," said Quincy Krosby, chief market strategist at Prudential Financial. "There could still be surprises today, and I don't think the market is taking anything for granted."

The yield on the 10-year U.S. Treasury note inched up to 1.828% from 1.826% on Monday, according to Tradeweb, while the WSJ Dollar Index was up less than 0.1%.

Global stocks rebounded sharply on Monday after the Federal Bureau of Investigation said over the weekend that no new evidence was found to warrant charges against Mrs. Clinton. The Dow Jones Industrial Average rose more than 2%, its best day before an election since1932, while the S&P 500 posted its biggest gain since March and snapped its longest losing streak in nearly 36 years.

The average percentage change on the day after an election is a decline of 0.9%.

"The most likely outcome is there is not as much change as people are currently fearing," said William Davies, head of global equities at Columbia Threadneedle Investments, noting he removed very little risk from his portfolios ahead of the vote, with neither candidate expected to be able to push through many of their stated policy objectives if Washington is divided.

"We are more cautious than usual," said Luca Paolini, chief strategist at Pictet Asset Management, noting he had scaled back on stocks, particularly cyclicals, and trimmed some exposure to emerging markets and U.S. high yield ahead of the vote.

Still, Mr. Paolini said he was prepared to consider adding to his portfolio should investors overreact to the presidential result. Longer term, the market tends to be driven by corporate profits, the economy, and monetary policy, which currently look strong in the U.S. for the next few months, he said.

While stock markets fell in recent sessions, U.S. earnings quietly beat expectations, with S&P 500 earnings on track to grow in the third quarter from the year-earlier period, according to FactSet, after five consecutive quarters of contraction.

Many investors also said the medium and longer-term economic impacts of either candidate remained unclear.

In currency markets, the dollar was 0.2% higher against Japan's yen. On Monday, the dollar had its biggest one-day jump against the haven currency since July.

The Mexican peso was little changed against the dollar after rising sharply on Monday. Following Mr. Trump's comments on Mexico during the campaign, should he win the election, "the peso is the number one target, " said Alexis Hombrecher,founding partner at hedge-fund manager Whard Stewart.

In commodities, U.S. crude oil fell 0.5% to $44.67 a barrel, while gold climbed 0.2% to $1,281.50 an ounce -- both changing direction from a day earlier.

Earlier, shares in Asia mostly inched slightly higher, bolstered by the gains on Wall Street, but moves were muted ahead of the U.S. vote. Hong Kong's Hang Seng advanced 0.5%, while Australia's S&P/ASX 200 added 0.1%. Japan's Nikkei Stock Average fell less than 0.1%.

--Akane Otani contributed to this article.

Write to Riva Gold at riva.gold@wsj.com

(END) Dow Jones Newswires

November 08, 2016 09:33 ET (14:33 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.