The detection of the Omicron variant in many countries was the main factor that lowered the risk appetite in global markets.
This morning, stock markets have seen widespread sell-off amid signs of looming Fed tightening and negative Omicron news feed.
While almost all Stock Exchanges in Asia are trading in negative territory, Hong Kong Hang Seng is at the front, followed by China real estate and technology stocks.
MSCI Asia Pacific extends its decline to its third trading day. US stocks also ended Monday with losses due to the effects of the Fed and Omicron. The S&P 500 fell 0.9 percent, and the Nasdaq 100 fell 1.4 percent. Futures on both exchanges are up slightly this morning.
US crude oil decreased by 0.6 percent to $70.91, while an ounce of gold at $1,786.