The effects of the Dow’s biggest-ever points decline on Monday extended across Asian markets in Tuesday trade, with all the major regional indexes shaping to finish sharply lower.
The ASX200 in Australia suffered its biggest one-day fall since 2015, while Japan’s broader TOPIX index got hammered — falling by more than 6% before recovering some ground in afternoon trade.
The table below provides a full rundown of the carnage (prices quoted at 5.30pm AEDT):
Australia ASX 200 5833.30 , -3.20%
NZ NZX 50 8241.83 , -2.06%
Japan TOPIX 1743.41 , -4.40%
Shanghai Comp 3379.76 , -3.09%
Shenzhen Comp 1744.23 , -3.44%
HK Hang Seng 30899.30 , -4.17%
Sth Korea KOSPI 2453.31 , -1.54%
Sinagpore STI 3376.34 , -3.06%
Taiwan TAIEX 10404 , -4.95%
Philippines PSI 8478.18 , -1.60%
Indonesia JKSE 6454.74 , -2.05%
Malaysia KLCI Index 1803.03 , -2.70%
Thailand SET 1767.56 , -2.36%
India Nifty 50 10353.4 , -2.94%
S&P 500 Futures 2582.25 , -0.98%
Today’s selloff was an extension of the chaos seen in US markets overnight, with steep declines seen across US stocks, especially financials.
That selling looks set to continue, with Dow futures currently pointing lower ahead of the Wall Street open.
A short time ago, futures on London’s FTSE index were trading around 0.4% lower after UK stocks dipped by 1.46% on Monday.
As markets begin to assess whether the US-led selloff has further to run, investors will also be watching for further spikes in the S&P500 volatility index (VIX).
At the close of Monday’s session in US markets, reports emerged that two investment vehicles tied to US share market volatility lost billions of dollars in value in just minutes.
Further spikes in volatility could have significant implications when UK and US markets reopen for Tuesday trade.