Global stocks fell again on Monday while U.S. equity futures rose, as investors mulled the economic implications of a new, highly infectious Covid-19 variant that led some countries to tighten border controls and impose other precautionary measures.

Tokyo’s Nikkei 225 index dropped 1.63% to its lowest closing level in a month and a half, after Japan’s government said it would close its borders to all foreign visitors starting Tuesday until more information about the new variant is available. The Japanese stock benchmark had declined 2.5% on Friday.

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