US banking contagion spreads to Asia

"Asia’s leading stock index erased all of its gains for the year on Tuesday as bank stocks
continued declines triggered by the collapse of a growing number of US financial establishments.

The MSCI Asia Pacific index fell 2.3%, with Japanese banks among the biggest drags on the market. The index is down more than 9% from this year’s high recorded in January, wiping out its gains for the year." RT