Stocks falter as anxiety grows over second coronavirus wave

Asian shares tumbled on Tuesday on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.

"Any recovery in equity markets is likely to be fragile for now, as markets will watch for cracks in the financial system and elsewhere in the economy as virus infections climb." Germany's Robert Koch Institute reported that the"reproduction rate" - the number of people each person infected with the coronavirus goes on to infect - had risen to 1.1. Any rate above 1 means the virus is spreading exponentially.

Fund managers expect equity markets to stay the course through June and avoid retesting March lows given the massive monetary stimulus provided by the U.S. Federal Reserve and other major central banks.

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