Share markets in China took another tumble early Tuesday, leading losses in the region as the 8.5 percent plunge in the benchmark Shanghai Composite index in the previous session and a persistent decline in commodities ignited risk-off sentiment.
Gold prices eased 0.3 percent at $1,093.20 an ounce, edging closer to last week’s five-and-a-half-year low, as expectations for a rate hike in the U.S. kept momentum firmly with the bears. Crude oil futures hit four-month lows; Brent crude settled down $1.15 at $53.47 a barrel, and U.S. crude closed down 75 cents at $47.39.
Wall Street sank overnight, with the Nasdaq Composite shaving off 1 percent. The Dow Jones Industrial Average lost 0.7 percent to end at a five-month low, while the S&P 500 closed down 0.6 percent to chalk up a five-session losing streak for the first time since January.