South Korean investors were sellers from the get-go, taking advantage of Monday's 2.8% surge in the KOSPI index to an all-time peak.
Wall Street's S&P 500 and Nasdaq may have gained overnight, but futures point sharply lower, and pan-European STOXX 50 futures are also in the red.
With most U.S. economic data releases suspended by the government shutdown, and Federal Reserve officials presenting diverging views on the correct path for monetary policy, investors have had to put a lot of weight on private surveys.
And one from Monday did not inspire much confidence in the world's biggest economy: Accounts from manufacturers in the Institute for Supply Management survey painted a dire picture of the factory sector, which President Donald Trump's sweeping tariffs are intended to stimulate.
The JOLTS job openings data, closely watched by the Fed, that the market should have gotten later on Tuesday almost certainly won't be forthcoming. Instead, investors need to wait until Wednesday for the ADP payrolls report.
For now, traders seem content with paring back bets on a December rate cut, lifting the dollar to multi-month highs on the yen and euro.
