Asia-Pacific markets dropped Wednesday due to new U.S. tariffs on Chinese goods, raising the cumulative tariff rate to 104%. The Dow Jones Industrial Average fell over 320 points, extending its four-day loss to over 4,500 points, largely driven by Apple's increased costs. The S&P 500 also declined significantly, nearing bear market territory. Investors also await India's central bank's expected rate cut.

Prepared by Christopher Adams and reviewed by editorial team.