Asian stocks dropped as the U.S. threat of higher tariffs on imports from China is continuing to reverberate through global markets. The New Zealand dollar fell after the country’s central bank cut rates to a record low.
Shares fell across the region with the brunt of declines seen in Japan, China and Hong Kong. Futures on the S&P 500 Index were steady after U.S. shares had the broadest day of declines since the Christmas Eve sell-off, despite closing off the session lows. China’s top trade negotiator still intends to visit Washington later this week as President Donald Trump ratchets up pressure to clinch a deal that many market participants had expected was all but done. Treasuries and the dollar were flat.
The MSCI Asia Pacific Index fell 0.8 percent as of 11:03 a.m. in Tokyo.
Source : Bloomberg