Asian stocks were trading on a mixed note on Tuesday after the threat of new tariffs on European goods from President Donald Trump damped risk appetite. Treasuries steadied alongside the dollar.
Shares slipped in Japan, fluctuated in China and Hong Kong, and were little changed in Korea and Australia. S&P 500 Index futures edged lower after the benchmark eked out a gain in thin volumes Monday, rising to just over a percent from its all-time high.
Crude held at a five-month high as an escalation of fighting in OPEC producer Libya overshadowed the biggest increase in US active rigs since May.
Trump’s administration is proposing tariffs on new passenger helicopters, various cheeses and wines, ski-suits and certain motorcycles in response to harm the US says is being caused by EU subsidies to Boeing Co. Rival Airbus SE.
Elsewhere, the Turkish lira held onto losses after Turkish President Recep Tayyip Erdogan cited “widespread irregularities” in local elections in Istanbul.
Source: Media Reports