Asia stocks fall on concerns about fresh lockdowns, banking sector

TOKYO - 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.

On Wall Street overnight, the Dow Jones Industrial Average fell 1.84 per cent, the S&P 500 lost 1.16 per cent, and the Nasdaq Composite dropped 0.13 per cent. US 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.New pandemic measures in the UK set off declines in airline, hotel and cruise companies in both European and US markets, spurring fears about further restrictions.

The death of US Supreme Court Justice Ruth Bader Ginsburg appeared to make the passage of another stimulus package in Congress less likely before the Nov. 3 presidential election, sparking large declines in the healthcare sector.

Markets aren't even open yet :)

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