US stock futures, Asian shares drop as Trump slaps new tariffs on China

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.15 percent in early trade but Japan's Nikkei bucked the trend to gain 0.4 percent.

S&P500 E-mini futures dropped 0.3 percent in Asian trade on Tuesday.

Apple Inc and Amazon.com , the world's top two companies by market capitalisation, fell 2.6 percent and 3.2 percent respectively, marking their biggest fall since late April, on worries about new tariffs, which were unveiled after US market close on Monday.

In the currency market, the yen gained slightly while the risk-sensitive Australian dollar dropped.

The yen strengthened slightly to 111.74 per dollar, off Friday's two-month low of 112.175.

The Australian dollar shed as much as 0.5 percent in early trade to USD 0.7144.

The euro stood little changed at USD 1.1673.

Oil prices fell on worries rising trade tensions between the US and China could dent global crude demand.

US. West Texas Intermediate (WTI) crude futures fell 0.4 percent to USD 68.61 a barel while international benchmark Brent futures lost 0.4 percent to USD 77.72 per barrel.


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