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Asian markets slipped in early trading Wednesday, after stocks fell on Wall Street as oil prices continued to drop following Monday’s wild ride to record low prices.
Japan’s Nikkei NIK, -1.09% fell 1.2% and Hong Kong’s Hang Seng Index HSI, -0.58% slid 0.7%. The Shanghai Composite SHCOMP, -0.15% edged down 0.3% while the smaller-cap Shenzhen Composite 399106, -0.11% dipped 0.2%. South Korea’s Kospi 180721, -0.87% sank 0.9%, while benchmark indexes in Taiwan Y9999, -0.20% , Singapore STI, -1.44% and Indonesia JAKIDX, +0.49% were mixed. Australia’s S&P/ASX 200 XJO, -0.10% fell 0.6%.
While May West Texas Intermediate oil CLK20, -9.49% ended trading down as its contract expired, while the June WTI contract CLM20, -4.40% was last up slightly.
On Tuesday, the Dow Jones Industrial Average DJIA, -2.67% fell 631.56 points, or 2.7%, to end at 23,018, the S&P 500 index SPX, -3.06% lost 86.60 points, or 3.1%, to close at 2,736.56, with both benchmarks finishing at their lowest levels since April 7, according to FactSet data. Meanwhile, the Nasdaq Composite Index COMP, -3.47% retreated 297.50 points, or 3.5%, to end at 8,263.23, marking its lowest close since April 13.
