Asia stocks track drop in Wall Street futures as Trump's tariff threats and Fed controversy weigh on markets

Asia stock trade in red on Tuesday, after Wall Street closed lower as traders weighed ￰0￱ Trump’s tariff ￰1￱ reportedly warned of “200% tariffs or something” on China if it limits rare-earth magnet exports, and vowed retaliation against countries targeting ￰2￱ Tech, calling such moves “discriminatory.” Separately, President Donald Trump announced the removal of Federal Reserve Governor Lisa Cook over allegations of mortgage ￰3￱ move sparked concerns about the Fed’s independence and its ability to conduct monetary policy without political ￰4￱ prices climbed above $38.7 per ounce on Tuesday, rebounding from the previous session’s ￰5￱ prices rose above $3,370 per ounce on Tuesday, reaching its highest level in two weeks amid heightened political ￰6￱ ( NKY:IND ) fell 0.87% to below 42,300, while the broader Topix Index lost 0.8% to 3,080 on Tuesday, snapping a two-day winning ￰7￱ Japanese yen strengthened toward 147 per dollar on Tuesday, recovering losses from the previous ￰8￱ ￰9￱ set to announce a USD 550 billion Japanese investment package this week, according to Commerce Secretary Howard Lutnick on ￰10￱ funds may support ￰11￱ in semiconductors, antibiotics, and rare ￰12￱ also looked ahead to a slate of key Japanese economic data later this week, including industrial production, retail sales, and consumer confidence ￰13￱ ( SHCOMP ) fell 0.16% to around 3,870 while the Shenzhen Component rose 0.3% to 12,480 on Tuesday, with mainland shares posting mixed performances as renewed trade concerns weighed on sentiment, and the offshore yuan held its recent gains to around 7.15 per dollar on Tuesday, trading close to its highest level in over four ￰14￱ Donald Trump said Monday he may impose a 200% tariff on Chinese goods if China refuses to sell magnets to the U.

S., following Beijing’s tighter grip on rare earth mining. “They have to give us magnets,” Trump said during an Oval Office meeting with South Korean President Lee Jae ￰15￱ holds cotton quota steady despite trade slump, China will allocate 200,000 metric tons of sliding tariff rate cotton import quotas to textile firms in the processing trade, matching last year’s volume, according to the National Development and Reform ￰16￱ Kong ( HSI ) fell 0.11% to 25,734 in Tuesday morning’s session, snapping a two-day ￰17￱ ( SENSEX ) fell 0.71% to 81,025 in morning trade on Tuesday, halting gains from the previous session and hitting its lowest level in nearly two ￰18￱ Indian rupee edged lower to below 87.65 per dollar on Tuesday, marking its fourth consecutive session of losses, as market sentiment remained clouded by tariff ￰19￱ Trump Administration outlined plans to implement a 50% tariff on products from India in a draft notice published Monday, as reported by ￰20￱ increased levies would apply to Indian products “that are entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 ￰21￱ Daylight Time on August 27, 2025.” Fitch Ratings affirmed India’s sovereign rating at ‘BBB-’ with a stable outlook on Monday, citing robust growth but flagging weak fiscal ￰22￱ ( AS51 ) fell 0.49% to 8,955 on Tuesday, reversing modest gains from the previous ￰23￱ Australian dollar held its decline around $0.648 on Tuesday, as investors weighed the latest minutes from the Reserve Bank of ￰24￱ from the Reserve Bank of Australia’s August meeting show that the central bank plans to guide the pace of future cash rate cuts based on new economic ￰25￱ board unanimously voted on August 12 to lower the cash rate by 25 basis points, marking the third reduction this year and bringing borrowing costs to their lowest level since April ￰26￱ now turns to the upcoming monthly CPI report later this week, expected to show faster inflation and reinforce views of a brief policy pause before further ￰27￱ the ￰28￱ Monday, all three major indexes ended lower as investors took a breather from last week’s powerful ￰29￱ turned toward Nvidia’s highly anticipated earnings report due Wednesday and the Federal Reserve’s preferred inflation gauge scheduled for release on ￰30￱ futures fell further on Tuesday after the major averages slipped to start the week, as investors took a breather following last week’s strong rally: Dow -0.09% ; S&P 500 -0.07% ; Nasdaq -0.11% .

Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: RBA minutes show data-driven approach to future rate cuts, after third rate cut this year South Korea’s Lee aims to revive ￰31￱ for trade advantage Japan's core inflation tops forecasts in July, rose 3.1% Y/Y Japan's manufacturing sector shrinks less than expected to 49.9 in August, services growth slows to 52.7 PBOC keeps lending rates at record lows for third straight month