Stocks to extend drop as virus concerns spur bonds
A global stocks selloff looks set to continue in Asia on Tuesday as the spread of the delta coronavirus variant stokes concerns about the resilience of the economic recovery and bolsters haven assets.
Futures fell about 1% in Japan, Australia and Hong Kong. U.S. contracts edged up after the S&P 500 fell the most in two months, with cyclicals like energy and financial shares suffering in a reversal of the reopening trade. Volatility soared, sending the Cboe Volatlity Index, or VIX, higher.
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