Asian shares bounced back after the worst day on record, as Japan lead gains on expectations that it will get priority in trade talks with US President Donald Trump’s administration.
Treasuries steadied after Monday’s sharp selloff, while US equity-index futures rose. Benchmark gauges in Japan rose more than 6%, along with futures contracts for the US and Europe.
Shares in Hong Kong and China fluctuated at the open after Trump threatened to slap additional 50% tariffs on China.
The dollar slipped against major peers while the yuan fell to its weakest level since 2023. Oil gained while gold advanced for the first time in four days.
Fears of an economic downturn led to sharp swings in US markets with the S&P 500 index nearing a bear market before finishing slightly down Monday as investors absorbed further tariff news.
Trump, who signaled he could be open to some negotiations, said he wasn’t considering a pause on his plan to implement additional tariffs on dozens of countries despite outreach from trading partners to avoid the levies.
