Asian stock markets are in a steel fall on Tuesday, following the broadly negative cues overnight from Wall Street that saw the Dow Jones Industrial Average plunging more than 700 points.
In Japan, the Nikkei 225 slipped over 220 points or 0.81%, the Topix index fell 1.01%, South Korea’s Kospi declined 0.52%, Hong Kong’s Hang Seng index fell 1.12% and the S&P/ASX 200 in Australia dropped 0.25%.
Mainland Chinese stocks were lower by the afternoon, with the Shanghai Composite 0.37% lower while the Shenzhen Component shed 0.17%.
However, Stock futures climbed in early morning trading with the Dow Jones Industrial Average futures edging higher 72 points, S&P 500 futures and Nasdaq 100 futures both traded mildly higher.
Meanwhile, US equities fell sharply mainly led by mounting concerns over the spread of the delta variant of the Coronavirus and increasing geopolitical tensions.
The Dow Jones Industrial Average plunged 725.81 points to 33,962.04 while the S&P 500 slipped 1.59% to 4,258.49. The Nasdaq Composite fell 1.06% to 14,274.98.
In the US, despite over 55% population have been vaccinated, has witnessed a three-fold jump in new COVID-19 cases in the past 30 days and new cases climbing over 32,100 on Sunday.
Further, the Biden administration blamed China for hacking the Microsoft exchange email server.
Notably, the 10-year treasury yield fell further by 12bps to 1.18%, the level not seen since February.
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