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French parliament restricts birthright citizenship in Mayotte
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Meghan Markle reveals pregnancy-related medical complications
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Spain enjoy goalfest against Portugal in women's Nations League as France edge Norway
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Patrick Mullins suspended for winning Grand National ride
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NBA Nuggets fire coach Michael Malone
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Brook will cut back on franchise cricket now he's England captain
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Aberg embraces fresh Masters test after runner-up debut
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McIlroy starts Masters with Aberg, Bhatia while Scheffler with Thomas, Ballester
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UN chief says Gaza transformed into 'killing field'
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Seve still inspires as Rahm chases second Masters title
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Hojgaard brothers to become first twins in same Masters
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Zverev knocked out early in Monte Carlo by Berrettini
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Abuse in French entertainment sector is 'endemic', inquiry finds
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Mancini to help former club Sampdoria avoid drop to Italy's third tier
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Kabul slams Pakistan's 'violence' against Afghans pressured to leave
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Prince Harry's lawyer cites threats in UK protection case
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French MPs slam 'endemic' abuse in entertainment sector
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Ski star Brignone looking beyond Winter Games to 'complete recovery'
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PSG coach Luis Enrique 'delighted' to be facing Asensio in Champions League
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France detains man after death threat to judge in Le Pen case
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At least 27 dead in Dominican Republic nightclub roof collapse
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McIlroy risks more Masters heartache for chance at epic win
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Trenitalia wants to compete with Eurostar on Paris-London route
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Trump's trade representative says tariffs 'bearing fruit'
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Pooran, Marsh help Lucknow edge Kolkata in IPL high-scorer
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Shanghai's elderly investors keep faith despite stock market woes
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Charles and Camilla pose at Colosseum in pomp-filled Italy visit
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Major trade wars since the 19th century
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Cruise to showcase last 'Mission: Impossible' at Cannes
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Stocks, oil bounce after tariffs-fuelled rout
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France detains man after death threat against judge who convicted Le Pen
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At least 18 dead in Dominican Republic nightclub roof collapse
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Pentagon chief fires US military representative to NATO
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Late Harrods owner 'ruined lives' of alleged victims: lawyer
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Zelensky says Ukraine captured two Chinese nationals fighting for Russia
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Charles and Camilla mark 20 years of marriage that defied the odds
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$20 mn blue diamond goes on show in Abu Dhabi
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'Spectacular' unbeaten Barca not invincible, says Gavi
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Asian markets pare losses, oil drops on Biden-Putin hope
Equities pared losses and oil prices sank Monday after presidents Joe Biden and Vladimir Putin agreed in principle to hold a summit to try to find a way out of the Ukraine crisis.
Warnings from US officials that Russia could invade its neighbour imminently have sent markets spiralling in the past week and sent crude surging towards $100 a barrel as traders fret over already tight supplies.
The crisis has compounded worries about inflation, which is sitting at a 40-year high and putting pressure on the Federal Reserve to hike interest rates with investors speculating over how fast and hard it will move.
Monday's session started on a negative note, with markets suffering hefty falls but the losses were reduced after the US and Russian leaders said they would hold talks on Ukraine, as long as Putin does not invade.
The US is "committed to pursuing diplomacy until the moment an invasion begins", Biden's press secretary Jen Psaki said in a statement. "President Biden accepted in principle a meeting with President Putin ... if an invasion hasn't happened."
"We are also ready to impose swift and severe consequences should Russia instead choose war. And currently, Russia appears to be continuing preparations for a full-scale assault on Ukraine very soon."
The news raised hopes for a peaceful conclusion to the standoff, though traders remain on edge.
Tokyo, Hong Kong, Shanghai, Seoul, Singapore, Taipei, Manila and Wellington were in the red, though Sydney and Jakarta edged up slightly.
Gold, a safe-haven asset in times of turmoil, slipped.
Oil was also down on easing fears about the possibility of supplies being hit by any conflict in eastern Europe, though surging demand as the global economy reopens continues to put upward pressure on the commodity.
Observers are warning $100 will soon be breached and could hold above that level for an extended period, even if talks on Iran's nuclear programme succeed and lead to the resumption of Tehran's crude exports.
The sharp rise in crude is a key driver of inflation across the planet, adding to supply chain snarls and bottlenecks.
While expectations are for a Fed rate hike next month, some bank officials at the weekend indicated they were not in favour of a 50 basis point rise, as has been suggested in light of consumer price hikes.
The prospect of higher borrowing costs this year has weighed on markets for months, bringing a near two-year equity rally to an end with commentators predicting further volatility down the line.
"Global data and central banks' stance on tightening are all taking a backseat to Ukraine, with markets nervously awaiting the next headline," Su-Lin Ong, at Royal Bank of Canada, said. "Thinner liquidity because of the US holiday adds to the anxiety."
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: DOWN 0.7 percent at 26,926.01 (break)
Hong Kong - Hang Seng Index: DOWN 0.7 percent at 24,165.52
Shanghai - Composite: DOWN 0.4 percent at 3,476.14
West Texas Intermediate: DOWN 0.4 percent at $90.70 per barrel
Brent North Sea crude: DOWN 0.8 percent at $92.81 per barrel
Euro/dollar: UP at $1.1354 from $1.1323 late Thursday
Pound/dollar: UP at $1.3613 from $1.3593
Euro/pound: UP at 83.41 pence from 83.30 pence
Dollar/yen: DOWN at 115.00 yen from 115.03 yen
New York - Dow: DOWN 0.7 percent at 34,079.18 (close)
London - FTSE 100: DOWN 0.3 percent at 7,513.62 (close)
N.Mitchell--AT