US Markets

GLOBAL MARKETS-Asian markets under pressure as Wall St falters, COVID-19 cases rise

Credit: REUTERS/JASON REED

Asian stocks came under pressure on Tuesday as a deadline for U.S. lawmakers to pass an economic stimulus bill approached and record daily coronavirus infections in Europe ignited concerns about more severe lockdowns.

By Jessica DiNapoli

NEW YORK, Oct 19 (Reuters) - Asian stocks came under pressure on Tuesday as a deadline for U.S. lawmakers to pass an economic stimulus bill approached and record daily coronavirus infections in Europe ignited concerns about more severe lockdowns.

In early Asia trade, Australian stocks .AXJO dipped at the open while MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.06%.

Chris Weston, the head of research at Melbourne brokerage Pepperstone, attributed the decline to worries about Washington's stimulus package and positioning ahead of the Nov. 3 U.S. presidential election.

"Do you really want to hold those exposures into what could be a volatility event?" Weston said. "We're getting into the Wild West territory where it becomes more whippy."

Japan's Nikkei 225 futures .N225 slipped 0.4%. Hong Kong's Hang Seng index futures .HSI.HSIc1 were down 0.59%.

Investors await earnings later in the week for companies including Netflix Inc NFLX.O and Tesla Inc TSLA.O.

They were also waiting to see if the final debate between U.S. President Donald Trump and his Democratic challenger Joe Biden on Thursday shifts the trajectory of the election.

The number of new COVID-19 cases in the United States last week rose 13% to more than 393,000, approaching levels last seen during a summer peak, according to a Reuters analysis.

The Dow Jones Industrial Average .DJI fell 1.44%, the S&P 500 .SPX was 1.63% lower and the Nasdaq Composite .IXIC settled down 1.65%.

The dollar edged lower on Monday as investors were cautiously optimistic that U.S. lawmakers could agree on a fiscal stimulus package ahead of the elections, and that a coronavirus vaccine will be ready by year-end.

The dollar index =USD fell 0.304%, with the euro EUR= up 0.02% to $1.1768.

Treasury yields pared earlier increases on Monday while oil prices dipped partly because Libya plans to boost output.

Global assetshttp://tmsnrt.rs/2jvdmXl

Global currencies vs. dollar http://tmsnrt.rs/2egbfVh

Emerging marketshttp://tmsnrt.rs/2ihRugV

MSCI All Country Wolrd Index Market Caphttp://tmsnrt.rs/2EmTD6j

(Editing by Sam Holmes)

((Jessica.DiNapoli@thomsonreuters.com; 646-223-4678;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

NFLX TSLA SPX

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More