Stocks pressured as U.S.-China trade fight revives growth fears; oil elevated

A man looks at an electronic board showing Japan’s Nikkei average outside a brokerage at a business district in Tokyo

Thomson Reuters

By Shinichi Saoshiro

TOKYO (Reuters) – Asia stocks struggled on Tuesday as the latest round of U.S.-China tariffs revived fears the trade dispute would knock global growth, while crude oil was elevated near four-year highs after Saudi Arabia and Russia ruled out immediate production increases.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent.

Australian stocks lost 0.08 percent and Japan’s Nikkei bucked the trend and edged up 0.2 percent.

China and the United States imposed a new round of tariffs on each other’s goods on Monday, intensifying a trade dispute that is expected to hit global economic growth.

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