HONG KONG, Aug 26 (AFP): Asian stocks retreated Tuesday after a series of market-rattling announcements by US President Donald Trump, including an unusual move to fire a central bank official and threats to impose export controls on microchips.
Traders had been riding a wave of confidence since Friday's speech by US Federal Reserve Chairman Jerome Powell, which suggested coming interest rate cuts in the world's largest economy.
But the upward flurry appeared to die out Monday on Wall Street as attention turned back to this week's earnings report from AI chip giant Nvidia-a bellwether for the industry as concerns over a tech bubble mount.
Asian markets notched mostly moderate losses on Tuesday, tracking drops made the previous day in New York and Europe.
Tokyo's main index recorded one of the more pronounced slides, finishing one percent lower. Hong Kong, Shanghai, Seoul and Sydney were also down, while Taipei was slightly up.
Early trading in Europe saw London, Paris and Frankfurt all decline.
Weighing on investors' minds was Trump's Monday evening announcement in the United States that he was removing Federal Reserve governor Lisa Cook, citing allegations of false statements on her mortgage agreements.
The dollar fell following the news, then mostly recovered after Cook issued a statement vowing to continue in her role.
Asian stocks down after Trump Fed firing, tariff threats
FE Team | Published: August 27, 2025 00:34:17
Asian stocks down after Trump Fed firing, tariff threats
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