Shinzo Abe South Korea Japan Singapore Usa India Hong Kong Australia city Bangkok city Tokyo city Shanghai virus death crisis Shinzo Abe South Korea Japan Singapore Usa India Hong Kong Australia city Bangkok city Tokyo city Shanghai

Asian shares, US futures sink as virus crisis deepens

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BANGKOK – U.S. futures dropped 4% and Australia's share benchmark initially plunged 8.5% as work on more stimulus for the U.S.

economy hit snags in the U.S. Senate. India's Sensex plummeted 9.4%. Singapore's benchmark plunged 7.3% after the city announced a sharp increase in confirmed infections and its first two deaths.

Shares initially dropped more than 4% in Hong Kong and fell 5% in South Korea. The Shanghai Composite index lost 1.6%. However, Japan's Nikkei 225 index held steady, gaining 1.9% by midday Monday.

Investors appeared to be encouraged by the likelihood the International Olympic Committee might postpone, rather than scrap, the Tokyo Games.

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