BANGKOK — U.S. futures dropped more than 4% and Australia's share benchmark initially plunged 8.5% as work on more stimulus for the U.S. economy hit snags in the U.S. Senate. Shares dropped more than 4% in Hong Kong and 5% in South Korea. However, Japan's Nikkei 225 index held steady, gaining 0.5% in early trading Monday. Top-level negotiations between U.S. Congress and the White House continued after the Senate voted against advancing the $2 trillion economic rescue package. The Democrats said the bill was tilted too much toward aiding corporations and would not do enough to help individuals and healthcare providers.

Source: International New York Times March 23, 2020 02:47 UTC