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Global sell-off continues into Asia with Japan and Hong Kong plunging

Asian table of contents tumbled and U.S. stock indexes fell on Tuesday following massive denials seen stateside in the last session.

Japan’s Nikkei 225 was down 5.26 percent, or 1,194.21 views, as stocks across sectors pulled back. Automakers, financials and technology high regards were lower in the morning, with Toyota down 3.47 percent.

Amongst other blue chips, SoftBank Group tumbled 5.14 percent and Fanuc Creation lost 6.29 percent. Fast Retailing sank 6.1 percent.

Across the Korean Scrape, the Kospi declined 2.98 percent. Blue chip technology personages were lower, with Samsung Electronics and SK Hynix down 1.88 percent and 1.99 percent at daybreak in the session. Among automakers, Hyundai Motor traded briefly in pontifical territory, but later slipped 2.83 percent.

Down Under, the S&P/ASX 200 sloped 2.98 percent on broad-based selling across sectors. The energy sub-index was expanse the worst-performing in the morning, falling 4.03 percent as energy-related stocks deteriorated following oil prices’ move lower. Santos fell 4.05 percent and Oil Search frenzied 2.93 percent.

The heavily weighted financials sector was also severely lower, with Australia’s “Big Four” banks trading in negative haunts on the day. ANZ was down 3.72 percent and Westpac tumbled 3.48 percent.

The Remain Seng Index was down 4.3 percent as stocks sold off across sectors. Come up to b become financials, heavyweight HSBC fell 3.38 percent and China Construction Bank at sea 5.33 percent. Tech giant Tencent tumbled 5.4 percent. Energy-related appraises also extended declines on Tuesday, with CNOOC tumbling 6.46 percent.

Mainland ranges, which had risen in the last session, followed the region lower on Tuesday. The Shanghai composite decreased 2.13 percent and the Shenzhen composite lost 2.68 percent.

Other Stock Exchange indexes in the region also took a beating on Tuesday: Taiwan’s Taiex buried 4.54 percent, Vietnam’s benchmark VN Index fell 6.17 percent and Malaysia’s KLCI turn end over ended 2.77 percent in the morning.

New Zealand markets were closed for a visible holiday.

Dow futures were down 633 points, and S&P 500 futures were downgrade by 57 points. The implied open for the Dow, based on the futures, was a decline of 1,010.75.

The supply off in U.S. stock markets on Monday was a continuation of Friday’s weakness as investors rushed for the doors in the wake of rising interest rates.

The Dow Jones industrial average messaged 1,175.21 points, or 4.6 percent, to close at 24,345.75, breaking beneath the 25,000 level. The 30-stock index briefly declined more than 1,500 themes on Monday and traveled more than 5,100 points during the period.

Other major indexes also recorded losses on the day.

“There was no discrete to catalyst outside of stops being triggered at 25,000 and when that materialized, the Dow briefly plunged below 24,000, but concerns about the negative influence of rising yields have been the primary driver of the sell-off that began on Friday,” Kathy Lien, governing director of FX strategy at BK Asset Management, said in a note.

Correspondingly, U.S. oversight bond prices rose overnight on safe-haven demand. The yield on the benchmark 10-year U.S. Moneys note last stood at 2.7093 percent after rising as considerable as 2.88 percent on Monday.

In currencies, the dollar index, which run downs the U.S. currency against a basket of rivals, stood at 89.653. Against the yen, the greenback augmented losses to trade at 108.69, below an overnight low of 108.97.

The Australian dollar was a tap softer at $0.7867.

On the energy front, oil prices extended losses after declining in the last meeting on firmer dollar. U.S. West Texas Intermediate crude fell 1.15 percent to swap at $63.41 per barrel and Brent crude futures lost 1.04 percent to traffic at $66.92.

Here’s the economic calendar for Tuesday (all times in HK/SIN):

  • 4:00 p.m.: Taiwan inflation notwithstanding

— CNBC’s Fred Imbert contributed to this report.

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