SYDNEY: Asia shares eased on Tuesday while the euro nursed its losses as investors pondered the downside of the U.S.-EU trade deal and the reality that punishing tariffs were here to stay, with unwelcome implications for growth and inflation.

European stocks retreated as lingering concerns that higher levies would crimp corporate earnings replaced optimism around a US trade deal.Most Read from BloombergBudapest’s Most Historic Site Gets a Controversial RebuildCan This Bridge Ease the Troubled US-Canadian Relationship?

Emerging-market borrowers are tapping the euro bond market at the fastest pace in over a decade, capitalizing on the rising demand for diversification away from the US dollar.

The major escalation dragged down futures tied to the Dow Jones Industrial Average by 1.17% or 504 points, while S&P 500 futures and Nasdaq 100 futures declined by 1.25% and 1.35%, respectively.

The TTF natural-gas futures contract was down 11%, on relief that shipments from the Strait of Hormuz are unlikely to be derailed now that Iran and Israel agreed a ceasefire. Similarly, the U.S ...

The United States and the European Union announced a trade framework Sunday after a meeting between President Donald Trump and European Commission chief Ursula von der Leyen.