The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
Hong Kong shares of HSBC and Standard Chartered fell more than 2 per cent each, as global banking stocks remained under intense pressure on reports about financial institutions allegedly moving illicit funds.
British lenders HSBC and StanChart were among global lenders named as having transferred more than $2 trillion in suspect funds over nearly two decades.
Australia's S&P/ASX 200 dropped 0.7 per cent pressured by miners and energy stocks, while China's blue-chip index shed 0.1 per cent and Hong Kong's Hang Seng index was down 0.5 per cent. Japanese markets were closed for a public holiday.
After-hours trade pointed to further selling pressure on Wall Street on Tuesday, with S&P 500 futures down 0.2 per cent in early Asia and Nasdaq 100 futures off 0.4 per cent.
"We can't see any positive news on the horizon in the near-term for the markets to rebound," said Steven Leung, executive director for institutional sales at Hong Kong brokerage UOB Kay Hian.
Overnight on Wall Street, the Dow Jones Industrial Average fell 1.84 per cent, the S&P 500 lost 1.16 per cent, and the Nasdaq Composite dropped 0.13 per cent.
US stocks have tumbled over the past three weeks as investors dumped heavyweight technology-related shares following a stunning rally that lifted the S&P 500 and the Nasdaq to new highs.
JPMorgan Chase & Co and Bank of New York Mellon Corp fell 3.1 per cent and 4.0 per cent, respectively, on Monday.
"The question is whether or not the residue of that impacts the performance of regional financials," said CommSec market analyst Tom Piotrowski in Sydney.
The coronavirus also remains front and centre of investor concerns.
New pandemic measures in the UK set off declines in airline, hotel and cruise companies in both European and US markets, spurring fears about further restrictions.
The Telegraph newspaper reported Prime Minister Boris Johnson will encourage Britons on Tuesday to go back to working from home. Any fresh coronavirus restrictions would threaten a nascent recovery and further pressure equity markets.
Concerns are also growing about a delay in stimulus measures after the US Congress has remained deadlocked for weeks over the size and shape of another coronavirus-response bill, on top of the roughly $3 trillion already enacted into law.
The death of US Supreme Court Justice Ruth Bader Ginsburg appeared to make the passage of another stimulus package in Congress less likely before the November 3 presidential election, sparking large declines in the healthcare sector.
US President Donald Trump said he would put forward his nominee on Friday or Saturday and called upon the Senate, controlled by his fellow Republicans, to vote on confirmation ahead of the election.
The dollar held on to sharp gains made on Tuesday, with moves in Asia modest owing to a public holiday in Japan. The euro was steady at $1.1764 and the yen, which backed off a six-month high as the dollar gained, crept higher to 104.56 per dollar.
The Australian dollar slipped a fraction to $0.7218 after a senior central banker flagged the prospect of policy options including currency market intervention and negative interest rates to support the economy.
Gold fell against the rising dollar, and last traded at $1,908.76 per ounce.
In oil markets, US crude rose 0.66 per cent to $39.57 per barrel while Brent gained 0.31 per cent to $41.95.
The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
Photonics is the study of light and has several applications including LED, VR, holograms, high-speed internet and solar panels among other things
A delegation from Egypt arrived in Israel on Friday hoping to revive the truce negotiations
The decision aims to protect the safety and security of pilgrims
They have been carrying out rescue operations for the last four years, drawing on their extensive experience in saving people from desert terrain
Dubai Amateur 17-year-old Oscar Craig continues to showcase his impressive form with third-round level par 72 at Saadiyat Beach Golf Club
The tragic incident led to the death of a number of innocent people from Yemen
Alongside regional leaders, US Secretary of State Antony Blinken will attend the meetings