Asian equities were mixed overnight as the Philippines, Taiwan, and South Korea outperformed, Thailand underperformed, and Pakistan was closed for Kashmir Solidarity Day.

China's stocks and currency came under pressure as markets returning from a week-long break were greeted by a new trade dispute with the United States and ructions in the global artificial intelligence sector.

Ordinary Chinese stoic in the face of escalating US trade war

A call between Trump and Xi Jinping hasn’t happened Tuesday, but might come Wednesday.

U.S. stock futures and the dollar fell on Tuesday, while Hong Kong shares slipped from two-month highs, as the U.S. and China went tit-for-tat on tariffs and raised the spectre of a broader, damaging trade conflict.

U.S. stocks are volatile after President Trump imposed tariffs on Canada, Mexico and China over the weekend. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.