TOKYO – Asian shares mostly fell Wednesday, on continuing worries about the economic fallout from the pandemic as reports of coronavirus cases keep surging in various regions.
Japan's benchmark Nikkei 225 dropped 4.5% to finish at 18,065.41. U.S. futures were lower, with the contracts for the S&P 500 and Dow industrials both down about 3%.
Adding to the damage was the Bank of Japan's quarterly survey of business sentiment, called “tankan,” which highlighted the gloom over a likely recession.
The world's third largest economy was shrinking late last year, before the outbreak began taking its toll in February. Sentiment among Japan's large manufacturers fell in the January-March period, marking the fifth straight quarter of decline,