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Global stock markets are expected to be hit again on Friday after US President Trump said he would impose a 10% tariff on the remaining $300 billion of Chinese imports to the United States starting next month.
U.S. stock index futures fell 0.25% in early Asian trading, after the S&P 500 index. SPX fell 0.90%, hitting a one-month low.
Pan-European Euro Stoxx 50 futures fell 0.87%, Nikkei index. N225 opened down 1.53%.
Trump's move broke the cease-fire reached between China and the United States in June and could further undermine global supply chains.
"After the U.S. -China Summit, you were expecting a quiet period of time," said Masahiro Ichikawa, senior analyst at Sumitomo Mitsui DS Asset Management.
"The market is also relieved by signs of recovery in the semiconductor industry. But now investors and businesses will have to revise their situational assessments.
China's official media immediately condemned the action, and Hu Xijin, editor-in-chief of the Global Times, said early Friday that the Sino-US trade agreement was "getting further and further away".
The tax threat triggered an influx of investors into safe havens such as U.S. Treasuries, yen and gold, while the yuan and the Australian dollar hit months-low levels.
Gold remained firm at $1,442.9 an ounce, close to a six-year high of $1,453 hit two weeks ago, up 2.4% on Thursday.
The yen rose 1.3% overnight against the dollar at 107.42, the biggest one-day rise in more than two years.
EUR = EBS rose to 1.1082 from a two-year low of $1.1027 hit in New York trading.
Risk-sensitive AUD = D4 fell to a seven-month low of $0.67965, while the offshore renminbi hit a nine-month low of 6.9673 against the dollar.


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