Japan’s benchmark Topix dropped 3.2 per cent and the exporter-oriented Nikkei 225 slid 3.9 per cent. In South Korea the Kospi fell 2.2 per cent. Hong Kong’s Hang Seng dipped 0.4 per cent. Gold hit a record $3,098 per troy ounce while US Treasury yields declined, in a sign that investors were piling into safe assets.

Shares were mixed in Asia on Tuesday, with Chinese markets retreating, following a broad rally on Wall Street fueled by hopes the Trump administration may take a more targeted approach as it tees up a new round of tariffs on imported goods next week.

Asian shares are mixed after Wall Street retreated as investors were rattled by uncertainties brought by U.S. President Donald Trump