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(Bloomberg) -- Iron ore resumed its decline on concerns that US President Donald Trump’s trade war could hurt global economic growth. Most Read from BloombergDOGE Visits National Gallery of Art to Discuss Museum’s Legal StatusTrump Gives New York ‘One Last Chance’ to End Congestion FeeTrump Administration Takes Over New York Penn Station RevampThe Racial Wealth Gap Is Not Just About MoneyNashville’s $3 Billion Transit Plan Brings a Call for Zoning ReformThe steelmaking ingredient fell as much as

Asian stocks battled to hold ground on Tuesday after a furious flight from U.S. assets undermined Wall Street and the dollar, while concerns about the independence of the Federal Reserve piled fresh pressure on Treasuries. Relatively limited losses in Asia did spark talk that funds could be reallocating money to equities in the area, though the impact of tariffs on economic growth remained a major drag. President Donald Trump's increasingly vocal attacks on Fed Chair Jerome Powell for not cutting interest rates saw Wall Street indexes shed around 2.4% on Monday and the dollar hit three-year lows.

Oil prices bounced back as equity markets staged a recovery on Tuesday, though concerns persist over economic headwinds from tariffs and U.S. monetary policy that could dampen fuel demand. "The daily fluctuations in Brent crude oil prices have been quite well aligned with fluctuations in equity prices," said SEB analyst Bjarne Schieldrop. U.S. stock index futures rose on Tuesday, bouncing back after losses in the previous session when President Donald Trump repeated his criticism of Federal Reserve Chair Jerome Powell and said the U.S. economy could slow unless interest rates were lowered immediately.

Cryptocurrency companies in the U.S. are moving towards becoming more integrated with traditional finance by seeking banking licenses and preparing for potential stablecoin regulations.

Bitcoin’s recent surge, briefly surpassing $87,700, follows a weakening U.S. dollar and speculation around upcoming Treasury buybacks.

138 stocks within the S&P 500 have positive gains year-to-date, and some of them are up big.

Bitcoin surged past $88,000 on Monday before settling around $86,800, marking its highest price since late March.

Trump ramped up the pressure on Jerome Powell on Monday, calling the Fed Chair "Mr. Too Late" and a "major loser" on Truth Social.

The Commodity Futures Trading Commission has opened a public-comment period for around-the-clock derivatives activity, as seen in the digital assets space.

In his latest criticism of the Federal Reserve, President Donald Trump said there is "virtually no inflation," but central bankers could beg to differ.