Asian shares fall as worries over virus variant grow

Hong Kong — Asian shares declined in early trade on Tuesday as growing anxiety over the spike in the Delta variant of Covid-19 infections and turmoil in Afghanistan eclipsed overnight strength on Wall Street.

“Disappointing Chinese economic data, anxiety over developments in Afghanistan, concerns over the impacts of the Delta variant, and a steeper-than-expected pullback in the NY Empire State manufacturing index weighed on risk appetite, boosting safe haven demand,” analysts at ANZ said in a note. The Dow Jones Industrial Average and the S&P 500 rose 0.31% and 0.26%, respectively. The tech-heavy Nasdaq Composite slipped 0.2%.

Investors are focused on when the Federal Reserve will rein in its easy money policies, with minutes from the central bank’s latest meeting due on Wednesday.

Source: News Formal (newsformal.com)

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