In Asian Equity Markets Japan’s Nikkei 225 traded down by 0.26 percent, with the real estate sector seeing a loss of 1.76 percent. South Korea’s Kospi was also trading lower by 0.15 percent, with industry heavyweight Samsung Electronics falling by 1.15 percent. In Australia, the ASX 200 continued the downward trend by sliding 0.76 percent lower. Over in the Greater China region, Hong Kong’s Hang Seng index fell around 1 percent in early trade. The Shanghai composite was also lower by 0.45 percent and the Shenzhen composite was down by about 0.47 percent.

In Currency Markets the U.S. dollar rose broadly and investors shunned emerging market currencies on Tuesday, as concerns about a possible escalation in the trade conflict between the United States and China boosted safe-haven demand for the greenback. Emerging market currencies came in for special punishment as investors feared these export-oriented economies would be caught in the middle of any escalating trade conflict. The U.S. dollar gained about 3 percent against the South African rand as the economy slipped into a technical recession in the second quarter and missed economists’ expectations.

In Commodities Markets oil prices fell on Wednesday, partly reversing a strong jump from the previous day, as the impact of a tropical storm on U.S. Gulf coast production was not as strong as initially expected. U.S. West Texas Intermediate (WTI) crude futures were at $69.47 per barrel, down 40 cents, or 0.6 percent, from their last settlement. International Brent crude futures fell 16 cents, or 0.2 percent, to $78.01 a barrel. Prices jumped the previous day as dozens of U.S. oil and gas platforms in the Gulf of Mexico were shut in anticipation of tropical storm Gordon hitting the region.

In US Equity Markets stocks fell on Tuesday as a drop in heavyweights Facebook and Nike added to worries over trade negotiations between the United States and other major economies. Nike fell 2.1 percent, top drag on the Dow, as calls for a boycott of the sportswear giant gained traction on social media after it chose Colin Kaepernick as a face for adverts marking the 30th anniversary of its “Just Do It” slogan. Nine of the 11 major S&P 500 sectors were lower, led by a 1.12 percent drop in the telecom sector. Verizon fell 1.9 percent after Barclays downgraded the wireless carrier’s stock.

In Bond Markets U.S. Treasury yields rose to three week highs on Tuesday after data showed that U.S. manufacturing activity accelerated to a more than 14-year high in August, and on heavy corporate debt supply. The Institute for Supply Management (ISM) said its index of national factory activity jumped to 61.3 last month, the best reading since May 2004 and up from 58.1 in July. Benchmark 10-year notes fell 14/32 in price to yield 2.902 percent, up from 2.853 percent on Friday. They earlier rose to 2.906 percent, the highest since Aug. 10. The yield curve between two-year and 10-year notes steepened to 24 basis points, from 23 basis points.