Asia-Pacific markets fell Tuesday as investors reacted to President Trump’s tariff threats and his move to fire Federal Reserve Governor Lisa Cook. Trump warned of steep levies on China’s rare-earth exports and on countries with digital taxes.

Hong Kong’s Hang Seng led regional losses, sliding 1.18%, while Japan’s Nikkei fell 0.97% and South Korea’s Kospi dropped 0.95%.

Australia and India also declined. U.S. futures dipped after Wall Street closed lower overnight, with the Dow down 0.77%, the S&P 500 off 0.43%, and the Nasdaq slipping 0.22%, CNBC has reported.

Investors now await Nvidia’s earnings and new U.S. inflation data.