* Wall Street flat despite flurry of M&A news
* Dollar recovers some after Friday's dive on FBI's Clinton probe
* Oil slips as non-OPEC producers don't back supply limits
* U.S. Treasury prices up on election uncertainty (Updates to afternoon U.S. trading, adds settled oil prices)
By Saqib Iqbal Ahmed
NEW YORK, Oct 31 (Reuters) - Oil prices fell sharply on Monday to touch a one-month low on doubts about OPEC's ability to implement its planned production cut, while global equity prices were shaky as Wall Street struggled to build on a sentiment boost from a string of M&A deals.
The dollar recovered some ground, shaking off concerns linked to an investigation that could influence the U.S. presidential election.
Oil prices dropped more than $1 a barrel after officials from the Organization of the Petroleum Exporting Countries (OPEC) and non-member producers met in Vienna on Saturday but failed to make any specific commitment to join OPEC countries in limiting output to support prices. market is becoming a bit weary," said Kyle Cooper, analyst at ION Energy in Houston. "Unless OPEC can circle the wagons and get everyone on the same page, the market's going to be skeptical."
Brent crude LCOc1 settled down $1.41, or 2.84 percent, at $48.30 a barrel, while U.S. crude CLc1 settled down $1.84, or 3.78 percent, at $46.86.
Lower oil prices weighed on energy shares on Wall Street and in Europe. MSCI's 47-country "All World" index .MIWD00000PUS was up 0.07 percent.
The index found little support from Wall Street despite a boost to sentiment from a flurry of deal activity that included General Electric's GE.N merger of its oil and gas business with Baker Hughes Inc BHI.N and CenturyLink's CTL.N acquisition of Level 3 Communications LVLT.N .
Investors remained cautious about taking large positions ahead of the outcome of the U.S. election next week. potential for volatility is high and that keeps people worried," said Scott Fullman, chief strategist at Revere Securities LLC.
Meanwhile, U.S. consumer spending rose more than expected in September as households boosted purchases of motor vehicles and inflation increased steadily, which could bolster expectations of an interest rate hike from the Federal Reserve in December. Dow Jones industrial average .DJI fell 6.4 points, or 0.04 percent, to 18,154.79, the S&P 500 .SPX gained 1.89 points, or 0.09 percent, to 2,128.3 and the Nasdaq Composite .IXIC added 6.98 points, or 0.13 percent, to 5,197.08.
European equities fell for a sixth straight session, with energy shares tracking weaker crude oil prices and financial stocks losing ground. Europe's broad FTSEurofirst 300 index .FTEU3 closed down 0.55 percent at 1,338.50. [ U.S. dollar rose against a basket of major currencies on reduced worries over the Federal Bureau of Investigation's investigation of emails linked to Hillary Clinton's use of a private server.
The greenback suffered its worst fall in more than seven weeks on Friday following news that the FBI is reviewing fresh evidence in its probe of the Democratic presidential candidate.
A Clinton win is generally seen by analysts as likely to be a positive for the dollar, and the FBI announcement on Friday gave new hope to Clinton's Republican rival Donald Trump that he can beat her on Nov. 8.
The dollar index .DXY was up 0.08 percent at 98.422.
The stronger dollar pushed gold slightly lower. Spot gold prices XAU= were down 0.04 percent to $1,2275.42.
U.S. Treasury prices gained on safety buying sparked by greater uncertainty over next week's election and demand for bonds for month-end portfolio rebalancing. 10-year notes US10YT=RR were up 3/32 in price to yield 1.83 percent, down from 1.85 percent late on Friday.
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