Asian stock markets are trading mostly lower on Tuesday, following the continued sell-off on Wall Street overnight, as traders remain concerned about slowing growth, soaring inflation and prospects of tighter policy moves by global central banks to combat persistent inflation. Worries about the impact of the Ukraine war, and the ongoing lockdown in Shanghai are also weighing on market sentiment. Asian markets closed mostly lower on Monday.
The coronavirus outbreak and related shutdowns across dozens of Chinese cities is hitting global operations and supply chains. Tumbling commodity prices also weighed on energy and materials shares.
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