Asian shares posted steep declines Friday, adding to global stock market losses after President Donald Trump vowed to impose stiff steel and aluminum tariffs, sparking fears of a trade war.
Japan's benchmark Nikkei 225 lost 2.8 per cent to 21,109.44 and South Korea's Kospi slid 1.5 per cent to 2,391.81. Hong Kong's Hang Seng shed 1.8 per cent to 30,489.57.
The Shanghai Composite in mainland China fell 0.4 per cent to 3,260.33. Australia's S&P/ASX 200 sank 1.0 per cent to 5,914.00, reports AP.
Major US benchmarks sold off. The S&P 500 index tumbled 1.3 per cent to 2,677.67, the third straight day it has lost at least 1.0 per cent.
The Dow Jones industrial average dropped 1.7 per cent to 24,608.98 and the Nasdaq composite fell 1.3 per cent to 7,180.56.
The dollar weakened to a fresh 15-month low, slipping to 106.01 from 106.24 yen late Thursday. The euro rose to $1.2275 from $1.2263.
Oil prices rebounded. Benchmark US crude rose 14 cents to $61.13 a barrel in electronic trading on the New York Mercantile Exchange.
The contract lost 65 cents to settle at $60.99 per barrel on Thursday. Brent crude, the international standard, rose 17 cents to $64.00 a barrel.
