Asian shares fell sharply on Friday after Wall Street and oil tumbled over growing concerns that a resurgence of coronavirus infections could stunt the pace of recovery in economies reopening from lockdowns.
FILE PHOTO: Visitors look at a stock quotation board at Tokyo Stock Exchange in Tokyo Japan, October 11, 2018. REUTERS/Issei Kato
The Chinese yuan headed for its biggest daily decline in two weeks, underscoring investors’ risk-averse mood in Asia. U.S. stock futures, the S&P 500 e-minis, rose 1.1% in Asia on Friday, but that did little to help sentiment. Cases in New Mexico, Utah and Arizona rose by 40% for the week ended Sunday, a Reuters tally shows. Florida and Arkansas are other hot spots.
U.S. crude slid 1.87% to $35.66 a barrel, while Brent crude eased 1.43% to $38.00 per barrel in Asia on Friday hit by renewed concerns over demand and a large buildup of U.S. crude inventories.
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