In Asian Equity Markets indices traded cautiously on Tuesday morning amid ongoing global trade tensions. Mainland Chinese shares fell in early trade, with the Shanghai composite declining 0.45%. Over in Hong Kong, the Hang Seng index shed 0.19% as shares of Chinese tech giant Tencent fell around 1%.Japan’s benchmark Nikkei 225 was 0.45% lower in morning trade, with shares of index heavyweight Softbank Group falling more than 2%. In South Korea, the Kospi fell 0.21%, with shares of industry heavyweight Samsung Electronics declining more than 1%.

In Currency Markets the U.S. dollar was on the defensive on Tuesday after taking a beating against peers such as the euro and yen, hurt by a sharp slide in U.S. Treasury yields as traders raised their bets for a near-term rate cut by the Federal Reserve. The dollar traded little changed at 108.045 yen after brushing 107.885 overnight, its lowest since early January. The euro nudged up 0.1% to $1.1250 after rallying roughly 0.7% overnight to $1.1262, its highest since May 13.

In Commodities Markets oil prices were pressured on Tuesday by an economic slowdown that has started to impact fuel consumption, although some support came from a Saudi Arabian statement that consensus was emerging with other producers over extending supply cuts. Front-month Brent crude futures were at $61.06. That was 22 cents, or 0.4%, below last session’s close.U.S. West Texas Intermediate (WTI) crude futures were at $53.08 per barrel, down 17 cents, or 0.3%, from their last settlement.

In US Equity Markets the Nasdaq fell 1.6% on Monday, confirming a correction as it was dragged down by Alphabet, Facebook and Amazon.com on fears the companies are the targets of U.S. government antitrust regulators. The S&P 500 lost 0.28%, to 2,744.45 and the Nasdaq Composite fell 1.61%, to 7,333.02 which was 10.2% lower than its May 3 close. The communication services sector, which includes Google and Facebook, closed down 2.8%, the biggest decline of the S&P’s 11 major sectors.

In Bond Markets U.S. Treasury yields fell to their lowest levels since September 2017 on Monday as investors piled more cash into low-risk debt to seek protection from market volatility due to growing trade conflicts between the United States and its trade partners. Benchmark 10-year Treasury yields fell 6.10 basis points to 2.081% after hitting 2.071%, their lowest level since September 2017. Ten-year yields were set for their biggest two-day fall in just over a year.