a man wearing a protective face mask amid the coronavirus disease covid19 pandemic walks past a screen showing shanghai composite index nikkei index and dow jones industrial average outside a brokerage in tokyo japan february 14 2022 reuterskim kyunghoon tokyo aug 2 reuters  asia stocks continued a decline from wall street on tuesday and us longterm treasury yields sank to a fourmonth low pulling the us dollar down against the yen and other currencies as investors worried about the risk of global recession there were also jitters about an escalation in sinous tension with us house of representatives speaker nancy pelosi set to begin a visit to taiwan against the objections of china which regards the selfgoverned island as a breakaway province read more australian equities declined amid an uncertain outlook for commodity demand  which also weighed on crude oil prices  while the local dollar hovered near its highest versus its us counterpart since midjune with the central bank widely expected to deliver a third consecutive halfpoint interest rate hike later in the day the australian axjo and south korean ks11 equity benchmarks suffered losses of about 03 each while japans nikkei n225 tumbled 117 us emini stock futures pointed to a 031 lower restart for the sp 500 spx which stumbled 028 overnight the week began with china europe and the united states reporting weakening factory activity with that in the us decelerating to its lowest level since august 2020 read more that sank crude with brent futures edging down to 9974 on tuesday after losing almost 4 overnight us west texas intermediate futures also eased to 9367 extending mondays almost 5 slide data releases over the past 24 hours have provided further evidence the global economy is slowing national australia bank strategist rodrigo catril wrote in a note to clients signs of a slowdown are building in the united states while chinas reopening activity burst is over he said the benchmark 10year us treasury yield fell as low as 253 in tokyo trade the lowest since april 5 amid wagers the slowdown could spur the us federal reserve to ease its foot off the policytightening pedal the bonds also benefited from safetyseeking demand before pelosis taiwan visit analysts said that helped the us dollar slide as low as 130595 yen for the first time since june 6 the euro jumped as high as 10294 a level not seen since july 5 the taiwan dollar slipped to its lowest level in more than two years on the weaker side of 30 per us dollar meanwhile the aussie was more subdued retreating 026 to 07009 but after hitting the highest since june 17 at 07048 in the previous session analysts polled by reuters expect the reserve bank of australia to hike by 50 basis points both on tuesday and again at its next meeting in september as it races to rein in inflation read more market participants also see a halfpoint bump later as a certainty and have priced an additional 37 basis points of tightening for the september decision