Bulletin
Investor Alert

New York Markets Close in:

Associated Press Archives | Email alerts

April 20, 2021, 11:42 p.m. EDT

Asian markets slump on worsening coronavirus outbreaks

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    NIKKEI 225 Index (NIK)
  • X
    Hang Seng Index (HSI)
  • X
    KOSPI Composite Index (180721)

or Cancel Already have a watchlist? Log In

By Associated Press

BANGKOK — Shares skidded in Asia on Wednesday after Wall Street closed lower for a second straight day, led by drops in technology companies and banks.

Worsening coronavirus outbreaks in Asia have cast a shadow over prospects for a rebound from the pandemic. Tokyo’s Nikkei 225 fell more than 2% and other benchmarks also declined.

On Tuesday, the S&P 500 gave back 0.7%, pulling the index further below the record high it set on Friday. Small-company stocks, which have been beating the rest of the market in recent months, fell more than other sectors.

Asian governments are scrambling to secure supplies of COVID-19 vaccines after seeing infection numbers surge in recent weeks. The rising caseloads are straining medical systems from Japan to India and leading to a restoration of pandemic precautions such as travel restrictions, quarantine requirements and a dimming of nightlife.

The Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -1.61% in Tokyo gave up 2.2% while Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.78% declined 1.8%. In Seoul, the Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.49% lost 1.5%, while Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.73% shed 1.2% despite strong retail sales data. The Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.61% inched slightly higher. Stocks fell in Singapore /zigman2/quotes/210597985/delayed SG:STI -0.67% , Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -4.11% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.63% .

“Global stocks are still plumbing the lows after renewed virus concerns spooked markets overnight,” Stephen Innes of Axi said in a commentary.

Worsening outbreaks in India and Thailand have also cast a pall on a recovery in travel, which in turn is clouding the outlook for oil and fuel prices, he said.

On Wednesday the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% closed at 4,134.94. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.66% lost 0.8% to 33,821.30. After shedding an early gain, the technology-heavy Nasdaq /zigman2/quotes/210598365/realtime COMP -1.40% slid 0.9%, to 13,786.27.

Apple /zigman2/quotes/202934861/composite AAPL -1.81% fell 1.3% as part of a broad slide in technology companies. Banks also accounted for a big share of the selling, which came as bond yields fell, reversing course after moving higher on Monday.

The yield on the 10-year Treasury fell to 1.56% from 1.60%.

In other trading, benchmark U.S. crude oil lost 51 cents to $62.16 per barrel in electronic trading on the New York Mercantile Exchange. It gave up 76 cents to $62.67 per barrel on Tuesday. Brent crude , the international standard, declined 46 cents to $66.11 per barrel.

The U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.6518% declined to 107.95 Japanese yen from 108.09 yen late Tuesday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,147.51
-461.08 -1.61%
Volume: 0.00
May 12, 2021 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,231.04
+217.23 +0.78%
Volume: 2.13M
May 12, 2021 4:08p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,161.66
-47.77 -1.49%
Volume: 1.42M
May 12, 2021 3:30p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,044.90
-52.10 -0.73%
Volume: 644,645
May 12, 2021 5:12p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,462.75
+20.91 +0.61%
Volume: 31.14B
May 12, 2021 3:01p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,123.26
-21.01 -0.67%
Volume: 0.00
May 12, 2021 5:20p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
15,902.37
-680.76 -4.11%
Volume: 0.00
May 12, 2021 1:33p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,938.35
-37.44 -0.63%
Volume: 0.00
May 11, 2021 3:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,117.08
-35.02 -0.84%
Volume: 426.92M
May 12, 2021 10:29a
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,043.32
-225.84 -0.66%
Volume: 71.05M
May 12, 2021 10:29a
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
13,201.33
-188.09 -1.40%
Volume: 935,590
May 12, 2021 10:29a
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 123.64
-2.28 -1.81%
Volume: 19.74M
May 12, 2021 10:29a
P/E Ratio
27.80
Dividend Yield
0.71%
Market Cap
$2101.14 billion
Rev. per Employee
$1.86M
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.3310
+0.7080 +0.6518%
Volume: 0.0000
May 12, 2021 10:29a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.