Investing.com - Shares in Asia dropped on Wednesday as renewed concerns over the impact sank the pound and sent the yen up sharply. leading Tokyo down nearly 3%.
The Nikkei 225 slumped 2.96%. The S&P/ASX dropped 1.49%, while the Shanghai Composite eased 0.20%. Trading was thin with several markets shut for Eid al-Fitr in tghe regiona nd elsewhere.
Overnight, U.S. stocks fell sharply on Tuesday erasing some of the gains from last week's post-Brexit rally, as widespread concerns related to the viability of banking stocks in the euro area and a continued global bond yield rout served as a drag on equities on Wall Street.
The Dow Jones Industrial Average fell 108.75 or 0.61% to, while the S&P 500 Composite index dropped 108.75 or 0.61% to 17,840.62, as declines among energy stocks and Dow transports weighed heavily on the major indices.
The NASDAQ Composite index, meanwhile, lost 39.67 or 0.82% to 4,822.90, amid a disappointing session among several top semiconductor stocks.
Investors also monitored political developments on Tuesday after FBI director James Comey said the bureau would not recommend charges against presumptive democratic presidential front-runner Hillary Clinton upon the completion of a comprehensive e-mail probe. White House spokesman Josh Earnest said U.S. president Barack Obama would not comment on the issue at a campaign stop with Cllnton on Tuesday in Charlotte.