U.S. President Donald Trump said there would be no extension to the August 1 deadline for reciprocal tariffs to come into effect after sending trade letters to several countries, including South Korea and Japan,

Global markets shrugged off the news, however, with both Asia-Pacific and Europe stocks staging a muted response Tuesday. One reason is likely to be because of Trump's seemingly more flexible approach to the new policies.

Major indexes tumbled on Monday, with the Dow falling over 400 points as investors digested Trump's latest trade updates.