In Asia-Pacific markets, concerns over Israel’s response to Iran’s recent air assault triggered a sell-off, with most major markets in the region dipping around 2%. China’s first-quarter economic growth exceeded expectations at 5.3%, compared to the forecasted 4.6%.
South Korea’s Kospi and Kosdaq plunged 2.37% and 2.24%, respectively, leading regional losses. Japan’s Nikkei 225 and Topix indices both tumbled over 2%, with the yen weakening against the U.S. dollar to its lowest level since June 1990.
Australia’s S&P/ASX 200 dropped 2.05%, while Hong Kong’s Hang Seng index and the CSI 300 fell by 1.93% and 1.18%, respectively, following GDP announcements.
In the U.S., stocks retreated as rising yields and Middle East tensions overshadowed strong Goldman Sachs earnings and retail sales data. The Dow Jones Industrial Average marked its sixth straight day of losses, shedding 0.65%, while the S&P 500 slipped 1.2%, and the Nasdaq Composite tumbled 1.79%. Higher rates also weighed on the market, with the 10-year Treasury yield reaching its highest level since mid-November.
The post Tuesday 16th April 2024: Asian markets tumble amid global tensions first appeared on IC Markets | Official Blog.