Shares in Asia extended losses on Tuesday following sharp falls on Wall Street overnight, the yen strengthened and U.S. Treasury yields ticked lower as the trade war between China and the United States escalated.
In early trade on Tuesday, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.4%, touching its lowest level since Feb. 15.
Australian shares were down 1.2% while Japan’s Nikkei stock index slid 1.9%.
U.S. S&P 500 e-mini stock futures were flat near seven-week lows.
China on Monday announced it would impose higher tariffs on $60 billion of U.S. goods following Washington’s decision last week to hike its own levies on $200 billion in Chinese imports.
Source : Reuters