US uncertainty triggers drops in Asian markets

Japan’s main stock market index recorded its worst finish since April 2017, reports the BBC

Japan’s Nikkei finished 5 per cent lower on Tuesday as the effects of the US govt shutdown and Wall Street turmoil hit Asian markets.

Indexes in Shanghai, Bangkok and Taiwan also plunged amidst growing worries among traders following a slide on Wall Street, the BBC reports.

US President Donald Trump's dispute with the US central bank chief and a government shutdown are causing concerns for investors as US stocks posted its worst Christmas Eve figures on record.

Thirty leading companies saw a drop of more than 650 points in the Dow Jones index on Monday. The stock market is on track for its worst December since 1931 during the Great Depression, reports the BBC.

Several financial markets in Asia, Europe and North America are closed for Christmas on Tuesday.

The Shanghai composite index in China also dropped more than two percent on Tuesday morning.

The slide in Asian markets is believed to be a result of the movement in the US and the shares sell-off by concerned investors that it has triggered.

Other factors include the trade tensions between the US and China as well as reports of President Donald Trump considering the dismissal of the chairman of the US central bank, Jerome Powell.