"Until markets see encouraging signs of both sides securing a trade deal, this negative sentiment and general risk aversion will most likely continue punishing global equity markets," Lukman Otunuga of FXTM said in a commentary.
"The negative sentiment isn't restricted to pessimism in equity markets, with a number of other risk assets also tracking losses," he added.
Jingyi Pan of IG said that China's official PMI for May, which will be released on Friday, would give an indication of the initial impact of tariffs on growth.
In Asia, Japan's benchmark Nikkei 225 gave up 1.2% to 21,003.37. The Kospi in South Korea retreated 1.3% to 2,023.32 and Hong Kong's Hang Seng was 0.6% lower at 27,235.71. Australia's S&P/ASX 200 eased 0.7% to 6,440.00.
The Shanghai Composite reversed early losses to edge 0.2% higher to 2,914.70. Stocks fell in Taiwan and Singapore, but advanced in Indonesia.
ENERGY: Benchmark U.S. crude lost 94 cents to $58.20 per barrel. The contract rose 51 cents to $59.14 per barrel on Tuesday. Brent crude, the international standard, fell $1.11 to $67.56 per barrel. It settled 10 cents lower at $68.67 per barrel in the previous session.
CURRENCIES: The dollar weakened to 109.26 yen from 109.36 late Tuesday. The euro dipped to $1.1153 from $1.1161.
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May 29, 2019 at 04:23PM
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