China Leads Asian Equities Lower

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.


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