SINGAPORE. Asia-Pacific stocks tumbled in early trading on Tuesday after major stocks plunged the day before in the US as the Russian-Ukrainian war continues to keep investors on their toes.
South Korean Kospi led regional sales, falling 1.55% in early trading. In Japan, the Nikkei 225 fell 0.9% and the Topix fell 0.82%.
In Australia, the S&P/ASX 200 fell 0.15%.
The broadest Asia-Pacific MSCI stock index outside of Japan fell 0.26%.
Overnight in the US, the S&P 500 dropped 2.95% to 4201.09. The Dow Jones Industrial Average lost 797.42 points, or 2.37%, to 32,817.38. The Nasdaq Composite Technology Index lagged 3.62% to 12,830.96.
Wall Street has suffered losses as investors continue to watch for potential economic damage from global power outages as the war between Russia and Ukraine continues.
Amid continued uncertainty, oil prices momentarily jumped to their highest level since July 2008.
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Currencies
The US Dollar Index, which tracks the dollar against a basket of its peers, was at 99.293 after a recent turbulence when it traded between 99.4 and 98.7.
The Japanese yen traded at 115.39 per dollar after yesterday’s weakness below 115 against the US dollar. The Aussie traded at $0.7329 after recently falling from above $0.736, losing some of its gains last week.