Concerns about the US-China trade war cause Asian markets to plummet; Japan's Nikkei drops more than 5%, and the Hang Seng is expected to open lower.

Friday saw a decline in Asian markets after Wall Street had a sell-off overnight as tensions over the US-China trade war intensified and heightened a sense of caution. With a steel fall of more than 5%, the Nikkei share average of Japan led the region's losses.

The Nikkei 225 in Japan fell 5.46%, and the Topix fell 5.05%. US President Donald Trump announced an immediate 90-day tariff truce for numerous nations on Thursday, which caused the Nikkei to soar 9%.

The prices of Fast Retailing, Tokyo Electron, and Advantest stocks fell 3.87%, 5%, and 7.5%, respectively.

Friday saw a decline in Asian markets after Wall Street had a sell-off overnight as tensions over the US-China trade war intensified and heightened a sense of caution. With a steel fall of more than 5%, the Nikkei share average of Japan led the region's losses.

The Nikkei 225 in Japan fell 5.46%, and the Topix fell 5.05%. US President Donald Trump announced an immediate 90-day tariff truce for numerous nations on Thursday, which caused the Nikkei to soar 9%.

The prices of Fast Retailing, Tokyo Electron, and Advantest stocks fell 3.87%, 5%, and 7.5%, respectively.

The Kosdaq fell 0.11% and the South Korean stock exchange's Kospi fell 1.55%. Futures for Hong Kong's Hang Seng index pointed to a lower opening.

Australian stocks fell more than 2%. At 7,524.50, the S&P/ASX 200 index fell as much as 2.4%. The benchmark S&P/NZX 50 index in New Zealand experienced a 1.5% decline. While raising tariffs on China, US President Donald Trump suspended reciprocal duties for 90 days for nations that did not reciprocate. The White House confirmed that the total tariff rate on China would now be 145%.

There are concerns that Beijing may raise taxes above the current 84% barrier because China has been matching each of Trump's tariff increases with increases of its own, according to Reuters.

In the meantime, the US stock market plummeted overnight on Wall Street, with the three main averages finishing precipitously lower. The Nasdaq Composite fell 4.31%, the S&P 500 broke 3.46%, and the Dow Jones Industrial Average fell 2.50%.