Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
The Hang Seng Index opened 0.3per cent lower and China's benchmark CSI300 Index slid 0.7per cent at the start. Riskier assets globally have come under pressure recently as many countries struggle to contain the outbreak of the fast-spreading Delta virus variant, raising fears that further lockdowns and other restrictions could upend the worldwide economic recovery.
U.S. yields turned higher on Tuesday following Monday's searing rally. The 10-year yield rose to 1.2087per cent from a close of 1.181per cent, a level last seen in February, and the 2-year yield edged up to 0.2196per cent from 0.21per cent Tuesday.
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