Asian markets lower after Wall St declines for third week
New Delhi, Sept. 22 -- Asian stock markets were lower Monday after Wall Street declined for a third straight week and Britain reported a rise in coronavirus infections.
Benchmarks in Shanghai, Hong Kong, Seoul and Sydney retreated. Japanese markets were closed for a holiday.
On Friday, Wall Street's benchmark S&P 500 index lost 1.1%, led by a sell-off of tech companies that led this year's rebound. Investors worry they might have become to expensive.
Market momentum shifted after the Federal Reserve said last week the U.S. economic outlook is uncertain. Growth in some industries has slowed after additional unemployment benefits that supported consumer spending expired. Congress has yet to agree on a new support package.
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