NEW YORK: Asian shares opened weaker on Tuesday on concerns about new pandemic lockdowns in Europe and after reports about financial institutions allegedly moving illicit funds hurt global banking stocks.
U.S. stocks have tumbled over the past three weeks as investors dumped heavyweight technology-related stocks following a stunning rally that lifted the S&P 500 and the Nasdaq to new highs. The U.S. Congress has also for weeks remained deadlocked over the size and shape of another coronavirus-response bill, on top of the roughly US$3 trillion already enacted into law.
ByteDance was racing to avoid a crackdown on its popular short-video app after the U.S. Commerce Department said on Friday it would block new downloads and updates to the app.
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