Asian markets look set to continue a downward path on Tuesday after soaring global coronavirus cases and shrinking hopes for a U.S. stimulus deal took a toll on Wall Street and drove up the U.S. dollar.
Australia's ASX 200 opened down about 0.6per cent, while Japan's Nikkei 225 futures were up 0.04per cent. The Nikkei 225 index closed down 0.09per cent on Monday. The futures contract was down 0.25per cent from that close.MSCI's gauge of stocks across the globe was down 1.52per cent. And while House Speaker Nancy Pelosi is still hopeful an agreement can be reached on a coronavirus relief bill before the Nov. 3 elections, White House economic adviser Larry Kudlow told reporters on Monday that talks have slowed."The challenge for markets is that in most cases they are already pricing a very strong economic bounce.
The Dow Jones Industrial Average fell 650.19 points, or 2.29per cent. The S&P 500 lost 64.42 points, or 1.86per cent, while the Nasdaq Composite dropped 189.35 points, or 1.64per cent.
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