Asian shares fall as coronavirus deaths rattle investors

Asian stocks fell on Wednesday, ending two sessions of consecutive gains as the death toll of coronavirus rose around the world.

Investors were rattled as mainland China’s new coronavirus cases doubled in 24 hours due to overseas travellers.

In New York, COVID-19 hospitalizations seemed to be decreasing. However, the death toll in the United States climbed to 1,800.

The erratic swings in the oil market caused the MSCI’s broadest index of Asia-Pacific shares outside Japan to drop 0.7%. Shanghai blue chips fell 0.6%, while Nikkei gained 0.4%.

S&P 500 e-mini futures rocked between gains and losses, while  EUROSTOXX futures plunged 1.1%.

The S&P 500 closed Tuesday with 0.16% losses. The Nasdaq sank 0.33% and the Dow 0.12%.

U.S. President Trump said the United States may be reaching the peak of the coronavirus curve. The Trump administration also asked Congress to release an additional $250 billion emergency economic stimulus for small businesses.

The dollar fell 0.1%, at 108.80 against the Japanese yen, while the euro slipped 0.2%, at $1.0865.

The dollar index rose 0.2%, at 100.170.