Trump's crackdown on China came shortly after US Trade Representative Robert Lighthizer announced that more countries will be exemptfrom the steel and aluminum tariffs that Trump announced three weeks ago.
Tokyo's main Nikkei share index was down more than 4 percent Friday, while share indexes in Shanghai and Seoul fell by more than 3 percent, following similar declines on Wall Street overnight. Smaller companies are also getting a bigger benefit from the recent cut in corporate tax rates.
South African futures were lower on Friday, as the JSE all share closed lower for the second consecutive session, on a weaker performance from Naspers. The German DAX was 1.35% lower, the French CAC was 1.26% in negative territory and the Spanish IBEX was down 0.98%. The euro was at $1.2321-2321, down from $1.2374-2374, and at ¥129.40-41, down from ¥130.76-76. Roughly $1 of every $5 in Apple's sales came from China, Hong Kong and Taiwan in its a year ago.
"China came back with proposed tariffs, but it was not almost as large as United States, and that's given people a little bit of semblance of hope that maybe this is not going to turn into a full-fledged trade war and maybe that there's room for negotiation", said Robert Pavlik, chief investment strategist at SlateStone Wealth in NY.
On Thursday they fled stocks and bought bonds, which sent bond prices higher and yields lower.
Benchmark 10-year U.S. Treasury notes last rose 6/32 in price to yield 2.8117 per cent, from 2.832 percent late on Thursday. Gold climbed $22.50, or 1.7 percent, to $1,349.90 an ounce and silver gained 20 cents, or 1.2 percent, to $16.58 an ounce.
Nissan says aims to sell 1 million electric vehicles annually by 2022
Nissan's connectivity push will allow for over-the-air vehicle updates and the expansion of its "Easy Ride" ride-hailing service. The company is also targeting an 8% core operating profit margin and cumulative free cash flow of ¥2.5 trillion (US$23 billion).
The dollar fell to 104.87 yen from 105.28 yen in late trading Thursday.
Defence contractors including Raytheon and Lockheed Martin climbed after President Donald Trump signed a new government funding bill that provides increases in military spending.
Indeed, U.S. officials say they have listened to Chinese pledges to open up its markets for too many years and are no longer interested in hearing empty promises.
"There's a whole lot less predictability in the news flow after this week, and I don't think that gave investors a lot of confidence going into the weekend "long" (stocks)", said Art Hogan, chief market strategist at B. Riley FBR in NY. With regard to the steel and aluminium tariffs, the U.S. president has given the European Union, along with Australia, Argentina, Brazil, Canada, Mexico and South Korea, a temporary exemption until 1 May, while talks continue. Australia's S&P/ASX 200 skidded 1.9 percent to 5,824.50. Toronto-Dominion Bank lost 2.3 per cent to $73.21, while Canadian Imperial Bank of Commerce was down 1.7 per cent to $114.07.
Target was up 2.3 percent and Kroger was up 4.1 percent, but off higher gains, after a Reuters source said there was no truth to a tech magazine report that the two retailers were in talks about a possible merger.
The price of oil climbed $1.58, or 2.5 percent, to $65.88 a barrel in NY. Heating oil added 3 cents to $2.02 a gallon. Kelvin Chan contributed from Hong Kong and Pan Pylas contributed from London.