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Asian shares slide after Wall Street has worse showing in a month
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Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month.
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Stock benchmarks fell in Hong Kong, Sydney and Seoul. Tokyo was flat. Shanghai recovered from early losses to edge higher.
Overnight, the S&P 500 fell 1.9%, deepening its losses from last week. Stocks of companies worst hit by the pandemic logged some of the biggest losses. Cruise lines, airlines and energy stocks tumbled in tandem with crude oil prices.
WIDESPREAD UNCERTAINTY OVER WHAT US ELECTION MEANS FOR WORLDWIDE STOCKS The S&P 500 slid 1.9% to 3,400.97. The Dow slumped 2.3%, to 27,685.38. The Nasdaq composite lost 1.6% to 11,358.94. Smaller company stocks also took heavy losses, knocking the Russell 2000 index down 2.2%, to 1,605.21.
In another sign of caution, Treasury yields pulled back after touching their highest level since June last week and were steady at 0.80% on Tuesday.
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