Asian markets plunged on China’s weak data, margin calls, and falling precious metals and Bitcoin.

Asian stock markets tumbled on February 2, 2026, led by China’s sharp declines amid weak PMI data and a surge in margin calls after precious metals and Bitcoin plummeted. Gold dropped nearly $1,000 an ounce, silver fell 30%, and the Shanghai Composite dipped over 1.6%, nearing 4,000 points. Japan’s Nikkei fell over 1%, the yen weakened, and Australia’s ASX200 dropped 1%. U.S. futures declined, and oil prices slipped as OPEC+ maintained output. Markets reacted to global risk aversion, mixed central bank signals, and geopolitical tensions, while China proposed lower anti-subsidy duties on EU dairy.