Asian stocks fall on concerns about fresh lockdowns, banking sector

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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.

FILE PHOTO: A man wearing a protective face mask, following an outbreak of the coronavirus , walks past a screen showing the Nikkei index outside a brokerage in Tokyo, Japan, March 13, 2020. REUTERS/Athit Perawongmetha

On Wall Street, the Dow Jones Industrial Average fell 1.84%, the S&P 500 lost 1.16%, and the Nasdaq Composite dropped 0.13%. In Asia, Australia’s S&P/ASX 200 declined 0.5% while South Korea’s Kospi fell 0.9%. Japan is closed for a public holiday.The dollar index rose 0.639% as the euro dipped 0.03% to $1.1766.

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 $3 trillion already enacted into law.

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