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Asia stocks skid as Ukraine war, China's COVID surge weigh

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Asian stocks were in the red on Tuesday as surging COVID-19 cases in China hit the confidence of investors who are already worried about the Ukraine war and the first U.S. interest rate rise in three years, which could come this week.

was down 1.91%, led by Chinese stocks. The index is down 8.2% so far this month.

In U.S trading, oil prices had fallen as much as 5.8% as prospects of a positive outcome in Ukraine talks eased concerns about major supply disruptions.

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