Asian shares were trading mixed amid global skepticism about U.S. investments and President Donald Trump’s trade war.
Trading was cautious in Asia, where the benchmark Nikkei 225 lost 0.3% to 34,174.38. Australia's S&P/ASX 200 was virtually unchanged, inching up less than 0.1% to 7,820.20. South Korea's Kospi gained 0.2% to 2,493.19. Hong Kong's Hang Seng slipped less than 0.1% to 21,387.51, while the Shanghai Composite added 0.3% to 3,301.59.
On Wall Street the previous day, the S&P 500 sank 2.4% in another wipeout. That yanked the index that’s at the center of many 401(k) accounts 16% below a record set two months ago.
The Dow Jones Industrial Average dropped 971 points, or 2.5%, while losses for Tesla and Nvidia helped drag the Nasdaq composite down 2.6%.
U.S. government bonds and the value of the U.S. dollar also sank as prices retreated across U.S. markets. That's an unusual and worrying move because Treasurys and the dollar have historically strengthened during episodes of nervousness. This time around, though, it’s policies directly from Washington that are causing the fear and potentially weakening their reputations as some of the world’s safest investments.
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AP Business Writer Stan Choe contributed.
