(Bloomberg) — Stocks in Asia fell amid concern the coronavirus outbreak will continue to spread, with increased cases reported in South Korea. Treasuries edged up.The won retreated and equities in South Korea were down as that country’s cases topped 1,000, up from just 51 one week ago. Futures on the S&P 500 Index earased gains. U.S. shares fell 3% Tuesday. The 10-year U.S. Treasury yield remained below 1.35%. Fears of the coronavirus spreading through the world’s biggest economy spooked traders Tuesday, with the Centers for Disease Control and Prevention warning Americans to prepare for an outbreak.Traders are also monitoring for any signs of policy accommodation as the global economy absorbs the blow of virus-linked shutdowns. U.S. central bankers are closely monitoring the spreading virus, but it is “still too soon” to say whether it will result in a material change to the outlook, Federal Reserve Vice Chairman Richard Clarida said Tuesday. Traders nevertheless are betting on further easing.“It’s the concern of the unknown,” David Kudla, chief investment strategist at Mainstay Capital Management LLC, told Bloomberg TV. “The question is, is the selling getting a bit overdone or is it a more appropriate response to how far coronavirus has spread, and that eventual impact to the economy.”Elsewhere, crude oil remained around $50 a barrel after slumping for two straight sessions.These are some key events coming up:Earnings keep rolling in from companies including: Peugeot SA on Wednesday; Baidu Inc., Best Buy Co. Inc., Occidental Petroleum Corp. and Dell Technologies Inc. on Thursday; and London Stock Exchange Group Plc on Friday.The Bank of Korea announces its policy decision on Thursday, with rising risks of an interest-rate cut.U.S. jobless claims, GDP and durable goods data are out Thursday.Japan industrial production, jobs, and retail sales figures are due on Friday.These are the main moves in markets:StocksFutures on the S&P 500 Index were flat as of 10:03 a.m. in Tokyo. The gauge fell 3% on Tuesday.Japan’s Topix index retreated 1.4%.South Korea’s Kospi index lost 1.6%.Australia’s S&P/ASX 200 Index declined 2.2%.CurrenciesThe yen was at 110.28 per dollar, down 0.1%.The offshore yuan traded flat at 7.0251 per dollar.The euro bought $1.0879, little changed.BondsThe yield on 10-year Treasuries fell one basis point to 1.34%.Australia’s 10-year yield lost about two basis points to 0.91%.CommoditiesWest Texas Intermediate crude oil added 0.5% to $50.13 a barrel.Gold rose 0.6% to $1,644.35 an ounce.\–With assistance from Elizabeth Stanton.To contact the reporter on this story: Adam Haigh in Sydney at [email protected] contact the editor responsible for this story: Christopher Anstey at [email protected] 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.