BEIJING (AP) — Asian stocks followed Wall Street lower today after China let its currency sink and halted purchases of U.S. farm goods, fueling fears Beijing’s trade war with President Donald Trump will harm the global economy.
China’s main index lost 1.5% and Australia’s was down 2.3%. Markets in Tokyo, Hong Kong and Seoul also retreated.
Yesterday on Wall Street, the S&P 500 dropped 3% to 2,844.74. The Dow Jones Industrial Average lost 2.9% to 25,717.74 and the Nasdaq composite fell 3.5% to 7,726.04.