Asia-Pacific markets mostly fell after the tech-heavy Nasdaq Composite dropped more than

Japan -0.57%. Japan data – March household spending +4.1% m/m and -2.3% y/y

China +0.64%.

Hong Kong -2.24%

Australia -1.17%. Quarterly retail sales data from Australia: Q1 +1.2% q/q (vs. expected +1.0%).

Australian April business confidence 10 (vs. prior 16).

Australian weekly consumer confidence survey 90.5 (prior 90.7).

India +0.19%.

Overnight on Wall Street, Dow Jones shed 653.67 points, or 1.99%, to 32,245.70, S&P 500 slipping 3.2% to 3,991.24, while Nasdaq dropped 4.29% overnight to 11,623.25.

UK data – Consumer spending +18.1% from April 2019.

UK data – BRC Like-for-like sales in April fall 1.7% y/y (prior -0.4%).

New Zealand Card Retail Sales +7% in April m/m (prior -1.3%).

Oil prices tumbled more than 1% on Tuesday, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand.

Brent crude fell $1.31, or 1.2%, to $104.63 at 0216 GMT after slipping to as low as $103.19.

U.S. West Texas Intermediate crude fell $1.25, or 1.2%, to $101.84 a barrel after hitting an intraday low of $100.44.

Gold prices edged higher on Tuesday as a decline in U.S. Treasury yields countered pressure on greenback-priced bullion from sustained strength in the dollar.

Spot gold was up 0.2% at $1,856.75 per ounce, as of 0213 GMT. U.S. gold futures were down 0.3% at $1,853.90.

Spot silver gained 0.4% to $21.87 per ounce, while platinum dipped 0.1% to $954.98, and palladium rose 0.5% to $2,107.80.

U.S. futures higher. Dow Jones +0.43%; S&P 500 +0.61%; Nasdaq +1.11%.