(Bloomberg) -- Asian stocks followed their U.S. counterparts lower Tuesday on concern rising coronavirus cases will hurt the global economy and as stimulus talks in Washington dragged on. U.S. futures fluctuated.Shares fell across the region with declines more modest than those seen in the U.S. overnight, when the S&P 500 saw its biggest loss in a month. Ongoing spending talks in Washington continued to weigh on sentiment as prospects dimmed for fiscal aid before the presidential election. Korean stocks pared opening losses as traders digested stronger-than-expected economic data. Australian shares underperformed.The dollar slipped and 10-year Treasury yields retreated below 0.8%. Oil climbed and copper was little changed, while gold edged higher.Surging coronavirus infections around the globe are worrying investors already cautious with the U.S. election a week away and time running out to finish an aid package before then. U.S. infections have hit a record in recent days. Europe took a step closer to the strict rules imposed during the initial wave of the pandemic, with leaders struggling to regain control of the spread while confronting growing opposition to restrictions.“Investors should stay patient while waiting for the election results to clarify,” Tai Hui, chief Asia market strategist at JPMorgan Asset Management, said. “The potential optimism around a deal could be dampened as we approach election day. The recent surge in infections in the U.S. and Europe is also denting market sentiment.”In Washington, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin again attempted to reconcile differences on a virus relief package. Differences between the two sides “have narrowed,” but “the more it narrows, the more conditions come up on the other side,” White House economic adviser Larry Kudlow told reporters.Elsewhere, Turkey’s lira weakened past 8 per dollar for the first time. The central bank rattled investors last week by unexpectedly keeping rates on hold, and geopolitical risks have sapped interest in Turkish assets.These are some events to watch this week:The Chinese Communist Party’s Central Committee holds its all-important plenum, where it’s expected to chart the course for the economy’s development for the next 15 years. Through Oct. 29.Brexit negotiating teams have started intense daily negotiations, and these are likely to continue as both sides push to finalize a deal by the middle of November.Bank of Japan and the European Central Bank have monetary policy decisions Thursday, followed by briefings from Governor Kuroda and President Lagarde.The first reading of U.S. 3Q GDP Thursday is anticipated to be the strongest on record following a record dive in the prior quarter as many businesses were shuttered by the pandemic.Here are the major moves in markets:StocksS&P 500 futures rose 0.1% as of 1:09 p.m. in Tokyo. The S&P 500 Index decreased 1.9%.Topix index fell 0.6%.Australia’s S&P/ASX 200 Index dropped 1.9%.South Korea’s Kospi index was little changed.Hang Seng Index fell 1.2%.Shanghai Composite Index fell 0.4%.Euro Stoxx 50 futures fell 0.1%.CurrenciesThe yen was up 0.1% to 104.73 per dollar.The offshore yuan traded little changed at 6.6956 per dollar.The Bloomberg Dollar Spot Index dipped 0.1%.The euro rose 0.1% to $1.1823.The British pound was up 0.1% to $1.3037.BondsThe yield on 10-year Treasuries was steady at 0.80%.Australia’s 10-year bond yield fell one basis point to 0.79%.CommoditiesWest Texas Intermediate crude rose 0.5% to $38.74 a barrel.Gold added 0.3% to $1,908.06 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.