Britain tightens COVID rules as world on alert over omicronUpdated: 11/27/2021 1:08 PMLONDON (AP) — The U.K. tightened up rules Saturday on mask-wearing and on testing of international arrivals after finding two cases of the new potenti...
Amid riots, France to consider some autonomy for GuadeloupeUpdated: 11/27/2021 12:45 PMLE GOSIER, Guadeloupe (AP) — France’s government is offering to discuss some autonomy for the French Caribbean island of Guadeloupe, which has been wr...
Anti-government protesters block bridges, roads in SerbiaUpdated: 11/27/2021 11:41 AMBELGRADE, Serbia (AP) — Skirmishes on Saturday erupted in Serbia between police and anti-government demonstrators who blocked roads and bridges in the...
Russia jails 5 people over coal mine disaster that killed 51Updated: 11/27/2021 11:36 AMMOSCOW (AP) — A Russian court on Saturday ordered five people to remain in pre-trial detention for two months pending an investigation into a devastat...
South African scientists brace for wave propelled by omicronUpdated: 11/27/2021 10:36 AMJOHANNESBURG (AP) — Worried scientists in South Africa are scrambling to combat the lightning spread across the country of the new and highly transmis...
Shippers prepare for another pandemic crush of holiday giftsUpdated: 11/27/2021 9:46 AMPORTLAND, Maine (AP) — The last holiday season was far from the most wonderful time of the year for the U.S. Postal Service: Sick and quarantined work...
Ship's master said he spent 50 hours sleepless before crashUpdated: 11/27/2021 8:36 AMNEW ORLEANS (AP) — An oil tanker hit an offshore oil platform at night off Louisiana because its Turkish operating company didn’t give the ship’s mast...
Macao detains Suncity boss on China gambling chargeUpdated: 11/27/2021 5:58 AMBEIJING (AP) — Macao police on Saturday detained the head of Macao’s biggest casino junket organizer and others after Chinese authorities issued an ar...
India asks Starlink to obtain license for internet servicesUpdated: 11/27/2021 5:36 AMNEW DELHI (AP) — The Indian government has asked Starlink Internet Services of Elon Musk’s SpaceX aerospace company to comply with the country’s regul...
Will flight restrictions help as new virus variant emerges?Updated: 11/26/2021 8:29 PMA new coronavirus variant identified in southern Africa is leading to a new round of travel restrictions just as many had finally begun to ease. The r...
|Last Update: 10:39 PM ET 11/25/2021|
|Asian stock markets sink as traders watch Europe virus cases|
By JOE McDONALD
BEIJING (AP) - Asian stock markets sank Friday as traders watched a surge in coronavirus cases in Europe and anti-disease controls that threaten to disrupt trade and travel.
Shanghai, Tokyo, Hong Kong and Sydney declined. U.S. markets were closed Thursday for a holiday.
Austria imposed a nationwide 10-day lockdown after its daily virus deaths tripled, while Italy imposed curbs on activity by unvaccinated people. The U.S. government advised Americans to avoid Germany and Denmark. Morocco suspended flights from France after its daily new cases spiked above 30,000.
- Traders will be closely monitoring the situation with the new COVID wave across Europe, - said Anderson Alves of ActivTrades in a report. Alves said curbs imposed by China that limit access for shipping crews are - prolonging a crisis" in global trade.
The Shanghai Composite Index lost 0.4% to 3,569.86 and the Nikkei 225 in Tokyo plunged by an unusually wide 2.5% margin to 28,779.03. The Hang Seng in Hong Kong tumbled 1.9% to 24,260.94.
The Kospi in Seoul lost 1% to 2,949.71 and Sydney's S&P-ASX 200 fell to 7,301.90. New Zealand and Southeast Asian markets also declined.
Wall Street's benchmark S&P 500 closed up 0.2% on Wednesday. U.S. markets are due to reopen Friday for a shortened trading session.
Investors are more cautious after Federal Reserve officials said in notes from their October meeting released this week they foresaw the possibility of responding to higher inflation by raising rates sooner than previously planned.
Financial markets had been encouraged by strong U.S. corporate earnings and signs the global economy was rebounding from last year's history-making decline in activity due to the pandemic. Stock prices have been boosted by easy credit and other measures rolled out by the Fed and other central banks.
Investors worry central bankers might feel pressure to withdraw stimulus earlier than planned due to stronger-than-expected inflation. The Fed said earlier it foresaw keeping rates low until late next year.
In energy markets, benchmark U.S. crude fell $1.68 to $76.71 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oils, shed $1.29 to $79.63 per barrel in London.
The dollar fell to 114.62 yen from Thursday's 115.36 yen. The euro advanced to $1.1224 from $1.1221.
Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.