Asia stocks fall after Wall Street sell-off as virus worries grow

SYDNEY - Asian stocks dropped on Thursday after a tumble on Wall Street, where worries about a surge in virus cases in multiple US states spurred a flight from riskier assets.

Florida and California set daily records for new cases, while Houston said its intensive-care unit beds are at 97 per cent capacity. New York, New Jersey and Connecticut are requiring visitors from virus hot spots to self-quarantine. The tech-heavy Nasdaq Composite fell for the first session in nine.

"Clearly the market really got the shivers over the prospect of a big increase in Covid and maybe starting to see places that were opening up have to close up, pressing the economy and lowering the prospects for the stock market," Margie Patel, portfolio manager at Wells Fargo Asset Management, said on Bloomberg TV.

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