Asian markets fall after the news of the tariff list as China leads the losses

Shenzhen's smallest composite fell 2.63 percent and the CSI 300 index fell 2.4 percent.

Hong Kong's Hang Seng index fell 2.02 percent in early operations, and the materials sector received the biggest hit of the morning. Financial and information technology stocks fell more than 2 percent.

Meanwhile, the Nikkei 225 in Japan fell 1.74 percent, with losses increasing as trade-sensitive stocks, such as automakers, fell: Toyota Motor fell 0.98 percent. Other Japanese exporters also traded down, with the Advantest chip-related company down 2.28 percent and Canon falling 1.13 percent.

The dollar was a bit softer against the yen safe after the latest tariff news, with the dollar trading at 110.90 at 9:40 a.m. HK / SIN, after trading above level 111 during the night.

On the other hand, the Kospi fell by 1.13 percent as South Korean exporters were hit in the middle of big declines. Hyundai Motor lost 2.43 percent and Samsung Electronics lost 1.3 percent.

In Australia, the S & P / ASX 200 lost 0.66 percent, and the energy, materials and services sectors saw the biggest declines.

Asia MSCI Index Pacific shares out of Japan plummeted 1.31 percent on morning trade in Asia amid the strong turnaround in sentiment on Wednesday.

Stock index futures fell further after the news. The implied opening for Dow Jones industrial average futures was more than 200 points lower at 8:20 p.m. ET. The implied opening for the S & P 500 and the Nasdaq was also in the red.

"The problem is that we do not know where this is going in the future, which could affect business investment, could affect job creation and could damage trust as we are seeing in the financial markets this morning," Erik Norland, senior economist of CME Group, told CNBC "Squawk Box".

The latest news about trade comes after US tariffs UU At $ 34 billion in Chinese goods came into effect on Friday, a movement against which China responded quickly. US President Donald Trump said last week that an additional $ 500 billion could face tariffs.

On Tuesday, the Dow rose 0.58 percent, or 143.07 points, to close at 24.919.66, the fourth consecutive session of index gains. The S & P 500 rose 0.35 percent to 2,793.84 and the Nasdaq compound finished higher by 0.04 percent at 7,759.20.

The advance on Wall Street came as the corporate earnings season came to an end. Analysts polled by FactSet expected the second quarter earnings of the S & P 500 to grow by 20 percent.

– Fred Imbert of CNBC contributed to this report.


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