Stocks declined and bond yields dropped in Asia on Tuesday as investors prepared for an increase in a global trade conflict, with new U.S. tariffs on Canada, Mexico, and China set to take effect soon. The U.S. dollar remained weak, while the euro and sterling held steady. Oil prices remained low, and bitcoin saw a decline after briefly surging earlier in the week. Tech stocks were hit hard, leading to losses in Asian markets such as Japan, Taiwan, and Hong Kong. Despite a slight recovery in U.S. futures, European markets were expected to open lower. Concerns over the impact on the global economy grew as President Trump announced higher tariffs on Canada, Mexico, and China. However, some investors remained optimistic that agreements would eventually be reached. Treasury yields fell to a new low, and the U.S. dollar index dropped. Gold and crude oil prices also saw declines.
Barrel, while U.S. West Texas Intermediate crude futures fell 0.4% to $68.09 a barrel. Reporting by Kevin Buckland; Editing by Sonali Paul.
