Asia-Pacific markets tumbled on Tuesday, mirroring steep losses in the U.S., as investors remained cautious over tariff policy uncertainty and recession fears.
By 11:30 am AEDT (12:30 am GMT) Australia’s S&P/ASX 200 fell 1.3%, reversing modest gains from the previous session, Japan’s Nikkei 225 dropped more than 2%, while South Korea’s Kospi 200 fell 1.8%.
The sell-off came after Japan’s revised fourth-quarter GDP was reported at 2.2% annualised growth, missing expectations and falling from the prior estimate of 2.8%.
Overnight, U.S. stocks extended losses as fears that President Donald Trump’s tariff policies could trigger a recession continued to weigh on sentiment.
The Dow Jones Industrial Average fell 2.1%, the S&P 500 lost 2.7%, and the Nasdaq Composite plunged 4%.
Brent crude oil fell 1.5% to US$69.28 per barrel, while spot gold prices dropped 0.7% to $2,889.50 per ounce.
Chinese markets also retreated, with the Shanghai Composite slipping 0.2% to 3,366.2, while the CSI 300 declined 0.4% to 3,928.8.
Meanwhile, Hong Kong’s Hang Seng Index dropped 1.9% to 23,783.5, and India’s BSE Sensex fell 0.3% to 74,115.2.
European markets also declined, with the FTSE 100 closing 0.9% lower at 8,600.2, the DAX falling 1.7% to 22,621, and France’s CAC 40 slipping 1% to 8,047.6.
