“Reimbursement of the infection rate, particularly in the United States, shows that the road to full recovery will be long and that it requires a medical solution, such as a vaccine,” said Tai Hui, chief market strategist. Asia for JP Morgan Asset Management wrote in a note on Monday.
The situation in the United States could also raise concerns in Europe, as European governments have considered opening more borders during the summer holiday season, he added.
“We expect market sentiment to become cautious in the near term, with investors covering the risks from pandemic and ongoing tensions between the United States and China,” Hui said.
On the oil exchange, U.S. crude futures fell 2% to trade at $ 37.74 a barrel during Asian hours on Monday. Brent, the world oil benchmark, lost 1.7% for trading at $ 40.23 per barrel.