Asian Markets Tumble as Global Trade Tensions Escalate

Asian stock markets fell amid fears of escalating global trade tensions following U.S. tariff increases on Canada, Mexico, and China. Bond yields and major currencies like the U.S. dollar remained volatile, while crude oil prices dropped. Tech stocks faced significant selling pressure across various Asian indices.

Asian stock markets faced significant declines on Tuesday as investors braced for heightened global trade tensions. The U.S. implemented new tariffs on Canada, Mexico, and China, triggering fears of an intensifying trade war.

Amidst these developments, the U.S. dollar remained weak, with sterling and the euro maintaining recent gains. In contrast, oil prices hit new lows, and cryptocurrencies like bitcoin saw diminished optimism.

Tech stocks bore the brunt of the sell-off, causing major indices across Asia to tumble. Despite a slight recovery in U.S. futures, European markets also appeared headed for a downturn, reflecting the ongoing uncertainty in global markets.

(With inputs from agencies.)