Asian shares fell across the board Monday, as pessimism took hold following rising COVID-19 infections regionally and Wall Street's first weekly loss...
TOKYO — Asian shares fell across the board Monday, as pessimism took hold following rising COVID-19 infections regionally and Wall Street’s first weekly loss following three weeks of gains.
“Asia stocks look set for a weak start,” said Yeap Jun Rong, market strategist at IG. “This comes as investors look beyond positive catalysts such as corporate earnings outperformance, focusing on several risk factors,” such as higher inflation and more COVID-19 cases. “The more transmissible delta variant is delaying the recovery for the ASEAN economies and pushing them further into the doldrums,” said Venkateswaran Lavanya, at Mizuho Bank in Singapore, referring to Southeast Asian nations.
The S&P 500 SPX, -0.75% fell 32.87 points, or 0.8%, to 4,327.16. It ended the week with a 1% loss. The Dow Jones Industrial Average DJIA, -0.86% dropped 299.17 points, or 0.9%, to 34,687.85. The tech-heavy Nasdaq composite COMP, -0.80% slid 115.90 points, or 0.8%, to 14,427.24.
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