Asian Stocks to Drop on Virus Angst; Dollar Gains: Markets Wrap
Asian stocks look set to open weaker after U.S. equities joined a global decline as a new variant of the coronavirus in the U.K. and a wave of lockdowns and travel restrictions damped spirits.
Futures indicated shares will drop in Japan, Australia and Hong Kong. The S&P 500 Index slipped, dragged lower by losses for Tesla Inc., which fell as much as 6% on its first day after being added to the U.S. benchmark. The yield on 10-year Treasuries retreated and the dollar climbed. Crude oil tumbled below $48 a barrel.
In Europe, the Stoxx 600 Index slumped the most since October as Italy, the Netherlands, Belgium and France closed their borders to the U.K.
Global stocks have pulled back after touching a record high last week as traders see much of the good news has already been priced in.
189,099 in U.S.Most new cases today
+10% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-0.8012 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
3.7% Global GDP Tracker (annualized), Nov.