Asian markets were off to a mixed start on Thursday as hopes of U.S. fiscal stimulus before the presidential election faded and a record number of new coronavirus infections in parts of Europe propelled investors toward safe-havens such as gold.
Downbeat comments from U.S. Treasury Secretary Steven Mnuchin that a stimulus deal was unlikely be made before the Nov. 3 vote weighed on fragile investor sentiment.With COVID-19 cases surging, some European nations are closing schools as authorities braced for a repeat of the nightmare scenario seen earlier this year.
Bank of America fell 5.3per cent and Wells Fargo , both U.S. banks, tumbled 6per cent after a disappointing quarterly results. Tensions between Beijing and Washington remain in view as the U.S. State Department has submitted a proposal for the Trump administration to add China's Ant Group to a trade blacklist, according to two people familiar with the matter, before the financial technology arm of e-commerce giant Alibaba is slated to go public.