Asian stock markets took a hit on Friday, echoing Wall Street’s struggles amid growing trade tensions and economic uncertainties. Japan’s Nikkei 225 led the decline, dropping over 2% due to a significant sell-off in technology shares.
China‘s latest trade data didn’t help matters, showing a modest 2.3% rise in exports but a worrying 8.4% drop in imports for January and February. This unexpected slump in imports has investors worried about a global economic slowdown, leading to losses in major Asian indices. Hong Kong’s Hang Seng and the Shanghai Composite both fell, while Australia’s S&P/ASX 200 and South Korea’s Kospi also saw declines.
In India, the Sensex experienced a slight decline in early trading on Friday, dropping 137.22 points to 74,202.87. The Nifty also went down by 28 points to 22,516.70. This downturn is largely attributed to ongoing concerns over U.S. tariffs, which have particularly impacted IT companies, causing their index to fall by 0.7%. Conversely, the auto index rose by 0.4% after CLSA suggested that eliminating import duties on U.S. cars would not greatly affect Indian carmakers.
Investor sentiment was further dampened by President Trump‘s recent executive order to establish a government reserve of Bitcoin, introducing additional uncertainty into the markets.
On Wall Street, all major indices suffered declines. The Dow Jones Industrial Average, S&P 500, and Nasdaq each recorded significant losses, reflecting the market’s apprehension over trade policies and economic growth prospects.
Looking ahead, investors are keenly awaiting the upcoming U.S. jobs report, which is expected to show an increase in hiring for February. This data is considered crucial for assessing the health of the economy and may influence future monetary policy decisions.
