Asian stocks dipped Tuesday after U.S. equities joined a global decline as a new variant of the coronavirus in the U.K. and a wave of lockdowns and travel restrictions hurt sentiment.

Japan and Australia underperformed as shares slipped across major Asia-Pacific markets. S&P 500 futures edged down after the benchmark fell Monday, with Tesla Inc. the biggest drag in its first day of trading on the gauge. European contracts posted modest gains. The dollar ticked higher, and the yield on 10-year Treasuries was steady. Crude oil held below $48 a barrel.