Asia markets set to open lower following US losses

Trading in Asia is poised to follow an overnight drop in U.S. stocks, where the Dow Jones industrial average fell more than 400 points.

Investors worried about rising interest rates and reacted to comments that hinted economic growth may slow later in the year.

Markets in Japan are set to open lower on Wednesday. Nikkei futures in Chicago traded at 22,100 while Osaka futures were at 22,070. The benchmark index finished the previous session a touch higher at 22,278.12.

Markets in Australia and New Zealand are shut for the Anzac day public holiday.

Elsewhere, the dollar index, which measures the greenback against a basket of currencies, last traded at 90.766.

The Japanese yen traded at 108.83 to the dollar while the euro fetched $1.2232.

Oil prices fell overnight as concerns that the U.S. might reinstate sanctions against Iran faded.

President Donald Trump on Tuesday said that the U.S. could soon reach an agreement with France that would preserve the 2015 Iran nuclear deal.

Trump made his comments during a news conference with French President Emmanuel Macron, who is trying to dissuade his American counterpart from pulling out of the accord.

U.S. crude fell 94 cents to $67.70 while global benchmark Brent was down 85 cents to $73.86 a barrel.

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