Asian equities extended a decline in global stocks, and the yen appreciated, as investors continued to worry about an escalating exchange of trade and investment restrictions, triggered by the Trump administration.
Shares opened lower in Japan and fell in Australia and South Korea, while futures signaled losses for Hong Kong equities after the S&P 500 Index had its biggest slide since April and European bourses declined.
Reports that the US will propose limits on Chinese technology investment damped sentiment, though stocks did recoup some losses overnight as National Trade Council Director Peter Navarro said there were no plans to impose as sweeping restrictions as markets feared. The 10-year Treasury yield premium over two-year notes compressed to a new decade-plus low.
Shares opened lower in Japan and fell in Australia and South Korea, while futures signaled losses for Hong Kong equities after the S&P 500 Index had its biggest slide since April and European bourses declined.
Reports that the US will propose limits on Chinese technology investment damped sentiment, though stocks did recoup some losses overnight as National Trade Council Director Peter Navarro said there were no plans to impose as sweeping restrictions as markets feared. The 10-year Treasury yield premium over two-year notes compressed to a new decade-plus low.
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