MTS Help Center

· U.S. stock index futures were lower on Tuesday morning, despite erasing some of the earlier losses as escalating trade tensions continue to dominate investor sentiment.

At around 02:10 a.m. ET, Dow futures rose 50 points, indicating a negative open of more than 72 points. Futures on the S&P and Nasdaq were also pointing to lower open.

Wall Street saw its worst trading day of 2019 on Monday amid an escalation in the U.S.-China trade war. The sell-off had began last week when President Trump announced new tariffs on Chinese goods. However, market reaction became even more negative when Chinese authorities let the yuan break to its lowest level against the dollar in more than 10 years on Monday.

· Global stocks extended already substantial losses on Tuesday, after Washington tagged China a currency manipulator, shaking fragile investor sentiment in a rapid escalation of the U.S.-China trade war.

Safe-haven assets, including bonds and some currencies such as the yen and Swiss franc, benefited as investors scurried to avoid risk.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.75% after brushing its lowest since January. It has lost 3.7% so far this week.

· Japanese shares plummeted on Tuesday to their lowest since early January, spooked by the spectre of a full-blown economic war between the United States and China after Washington designated China a currency manipulator.

The Nikkei share average fell 0.65% to 20,585.31, after diving 2.94% at one point and hitting its lowest since Jan. 10. The broader Topix lost 0.44% to 1,499.23.

Although the market pared more than half of its earlier losses, helped in part as the Chinese yuan steadied, sentiment remained cautious on heightening uncertainties over the global economic outlook.

· China’s tumbling yuan steadied on Tuesday as authorities took steps to contain its slide, while stocks tanked after Washington labeled Beijing a currency manipulator in a sharp escalation of Sino-U.S. trade tensions.

The Shanghai Composite Index .SSEC fell 1.6% to its lowest close since February. Hong Kong's Hang Seng Index .HIS closed at its lowest since January, though its pared some losses during the day.

· European stocks traded mixed on Tuesday as markets paused for breath following a three day sell-off resulting from a rapid escalation of the trade war between the U.S. and China.

The pan-European Stoxx 600 hovered around the flatline early in the morning session, telecoms falling 0.5% while media stocks climbed 0.7%.

Reference: CNBC, Reuters