Asian shares stepped back further from two-month highs on Wednesday as a retreat in oil prices and weak Chinese trade data revived concerns about the health of the global economy.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.2 percent in early trade, shedding 1.4 percent from its two-month high hit on Monday. Japan's Nikkei .N225 fell 1.0 percent in morning trade.
US equities recovered late in the session from heavy losses, but finished well in the red following soft data out of China and commodities succumbing to profit taking.
The Dow Jones fell 109.85 points, the S&P500 eased 22.50 points whilst the tech heavy Nasdaq lost 59.43 points. There were losses in energy (-3.2%), materials (-1.5%) and financials (-1.2%) whilst utilities (+0.7%), staples (+0.5%) and telecoms (+03%) were the best performers.
European shares also fell, with resources falling heavily. The STOXX Europe 600 Basic Resources index fell 9.3%. Glencore collapsed 18% on news of an accident at a mine in the Democratic Republic of Congo.
The FTSEurofirst 300 Index fell 0.9%, the German Dax lost 0.90% whilst the UK FTSE also surrendered 0.90%.
Reference: Reuters, MKS Group
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