Asian stock markets sink as traders watch Europe virus cases

Asian stock markets have declined as traders weigh the impact of a surge in coronavirus cases in Europe and anti-disease controls that threaten to disrupt trade and travel

BEIJING -- Asian stock markets sank Friday after some European countries tightened curbs on travel and business following a surge in coronavirus infections and South Africa reported a new variant.

Shanghai, Tokyo, Hong Kong and Sydney declined. U.S. markets were closed Thursday for a holiday.

Austria imposed a nationwide 10-day lockdown after its daily virus deaths tripled, while Italy imposed curbs on activity by unvaccinated people. The U.S. government advised Americans to avoid Germany and Denmark. Scientists in South Africa said a new variant was spreading among young people in its most populous province.

“Investors are likely to shoot first and ask questions later until more is known,” Jeffrey Halley of Oanda said in a report.