Stocks slide into Fed mode, shorts stalk banks

News Snapshot:

SINGAPORE, May 3 (Reuters) - Asian stocks fell for a second session in a row on Wednesday, as global investors contended with signs of a softening U.S. economy, and were in full flight from U.S. regional lenders, ahead of an expected U.S. interest rate hike later in the day. Trade was thinned by holidays in China and Japan, though markets in Hong Kong were open and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.7%. Overnight, tumbling regional bank stocks (.KRX) dragged the S&P 500 (.SPX) down 1.2% and oil dived more than 5% on fears that shaky...