The Asian market logged losses except Japan's Nikkei-225 which rose one per cent on Tuesday. Hong Kong's Hang Seng tumbled 2.2 percent and China's Shanghai Composite index declined 1.1 percent. Singapore's Straits Times index fell 0.5 per cent and South Korea's Kospi index slipped 0.1 per cent.

European Markets were also down in intra-day trade. London's FTSE-100 and Germany's DAX, both were down around half a percent each while France's CAC-40 was down one per cent when reports last came in.