Asian stock markets experienced a turbulent Friday, influenced by Wall Street's negative cues and escalating concerns over potential US tariffs. According to RTTNews on Friday, the Nikkei 225 in Japan fell over 2 percent, nearing the 37,000 mark, with Toyota and Honda declining by more than 3 and 2 percent, respectively. South Korea and Taiwan also saw declines of 1.8 and 1.6 percent, respectively.
In Australia, the S&P/ASX 200 managed a slight gain of 0.23 percent to 7,987.20, supported by energy and mining sectors. BHP Group increased by almost 1 percent, while Mineral Resources rose by over 2 percent.
President Trump's threat to impose 25 percent tariffs on auto imports intensified recession fears, driving investors towards safe-haven assets. Gold reached a record high of $3,066.56. The markets are awaiting US personal consumption expenditures data to gauge the impact of these policies, especially after consumer confidence hit a pandemic-era low due to rising prices.
The uncertainty surrounding US trade policies continues to weigh heavily on market sentiment, with potential retaliatory measures from the EU and Canada adding to the global economic unease.