SQUAWK BOX, TUESDAY 27TH OCTOBER, 2020

Banks are in focus today, as HSBC’s third quarter profit beats expectations but falls 36 percent sending shares higher. The company’s CEO tells CNBC interest rates are expected to remain low. Santander sees net profit treble in the third quarter, but the Spanish bank says it will cut an additional 1 billion euros in costs over the next 2 years.

In the U.S., the Dow posts its biggest one day drop since early September and closing below 28 thousand, as rising cases and stalled stimulus weigh on sentiment. Meanwhile the senate confirms Amy Coney Barrett to the supreme court, cementing a conservative majority in the country’s highest judicial body. President Trump's pick says she will be 'politically independent'. And protests break out across Italy after the government imposes renewed virus restrictions, with some demonstrators in Turin turning violent, attacking police with smoke bombs and bottles.