Asia-Pacific markets fell sharply on Friday after United States President Donald Trump reaffirmed that tariffs on imports from Mexico and Canada would proceed as planned next week.
By 11:35 am AEDT (12:35 am GMT), Australia’s S&P/ASX 200 was down 0.9%, while Japan’s Nikkei 225 slid 2.4%, and South Korea’s Kospi 200 lost 1.8%.
Among data releases, Japan's industrial output declined 1.1% month-over-month in January on a seasonally adjusted basis, while retail sales grew 3.9% year-over-year, according to the Ministry of Economy, Trade and Industry.
U.S. markets saw steep losses overnight, with the Dow Jones Industrial Average dropping 193.6 points or 0.5% to 43,239.5. The S&P 500 declined 1.6% to 5,861.6, while the Nasdaq Composite tumbled 2.8% to 18,544.4.
Brent crude surged 2.5% to US$70.53 per barrel, while spot gold retreated 1.3% from record highs to $2,887.12 per ounce.
In Asia, China's Shanghai Composite gained 0.2% to 3,388.1, while the CSI 300 rose 0.2% to 3,968.1.
Hong Kong's Hang Seng Index edged 0.3% lower to 23,718.3, while India's BSE Sensex closed flat at 74,612.4.
European markets were mixed, with the FTSE 100 adding 0.3% to 8,756.2, while Germany's DAX fell 1.1% to 22,550.9 and France's CAC 40 slipped 0.5% to 8,102.5.
