Asian Markets Losing Ground Tuesday

Asian markets are trading lower Tuesday amid concerns of a second wave of the novel coronavirus outbreak. Tokyo’s Nikkei index is 0.1% lower, while Hong Kong’s Hang Seng index has lost a whopping 438 points, or 1.7% of its value. The S&P/ASX index in Sydney is down 1.4%, while the markets in Seoul, Shanghai and Taipei are also significantly lower in late afternoon trading. The three major U.S. indexes, the Dow Jones, S&P 500 and Nasdaq, are all trading below one percent in futures trading.  Meanwhile, the price of the U.S. benchmark West Texas Intermediate crude is $24.41 per barrel, a gain of 1.1%, while Brent crude, the international benchmark, is trading at $29.78 per barrel, up 0.5%.   Although economies around the world appear to be slowly returning to normal, experts say U.S. markets will have a tough time making a full recovery if coronavirus testing isn’t improved and no vaccine is available anytime soon.   

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