Global stocks showed signs of stabilizing on Tuesday after a rough Monday, as European exchanges edged down and futures markets suggested that Wall Street would open slightly lower.
Asian markets followed Monday’s slump on Wall Street, in which a sell-off left the S&P 500 index down 1.2 percent. Hong Kong led the losses among Asia’s biggest markets, down 1.8 percent, as antigovernment protesters swarmed the city’s busy airport for the second straight day.
Markets had been unnerved by worries about the trade war between the United States and China. On Tuesday, reflecting the ripples from that conflict, Singapore slashed its annual economic growth expectations to between zero and 1 percent. Investors were also reacting to unexpected election results from Argentina, which sent that country’s stocks and currency plunging.
New data published on Tuesday also indicated at prospects for the German economy had worsened considerably. The ZEW indicator of economic sentiment fell 19.6 points from the month before to 44.1 points in August.
“The most recent escalation in the trade dispute between the U.S. and China, the risk of competitive devaluations, and the increased likelihood of a no-deal Brexit place additional pressure on the already weak economic growth,” Achim Wambach, the president of ZEW, an economic research center, said in a statement. “This will most likely put a further strain on the development of German exports and industrial production.”
Losses moderated as European markets opened, but concerns about the global economy continued to weigh stocks down.
The FTSE 100 had sunk about 0.5 percent by late morning in Britain. Germany’s DAX was about 1 percent lower and the CAC 40 in France was down about 0.5 percent.
Hong Kong’s Hang Seng Index ended down 2.1 percent on Tuesday.
In Japan, the Nikkei 225 index fell 1.1 percent.
China’s Shanghai Composite Index ended 0.6 percent lower.
Both South Korea’s Kospi index and Singapore’s Straits Times index fell 0.9 percent.