Asian markets posted huge losses for a second consecutive day Thursday amid the continuing political stalemate in Washington over a new coronavirus relief bill.
The Nikkei index in Japan fell 0.5% for the day. The KOSPI index in Seoul finished down 0.6%, while Taiwan’s TSEC index dropped 0.7%.
The S&P/ASX index in Australia was the region’s lone bright spot, finishing up 0.5%.
In late afternoon trading, Hong Kong’s Hang Seng index is 1.1% lower, Shanghai’s Composite index is down just over 2 points, but even in terms of percentage, and Mumbai’s Sensex index is 0.7% lower.
U.S. Treasury Secretary Steven Mnuchin told reporters Wednesday that a deal on a new financial rescue package is unlikely to pass Congress before the Nov. 3 general election, as he and House Speaker Nancy Pelosi remain far apart on the details.
In commodities trading, gold is selling at $1,900.70 per ounce, down 0.3% The price of U.S. crude oil is $40.90 per barrel, down 0.3%, with Brent crude selling a $43.17 per barrel, also down 0.3%.
All three major U.S. indices are trending lower in futures trading.