Asian markets collapse as US-China tensions rise and US tech stocks fall

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Stocks fell in Asia early Friday, following rising tensions between the United States and China and a sell off in tech stocks on Wall Street.
Hong Kong HSI Hang Seng Index,
-2,26%
fell 1.9% while the Shanghai Composite SHCOMP,
-3,05%
sank 2.3% and the smaller-cap Shenzhen Composite 399106,
-3,99%
slip 2.9%. Kospi 180721 from South Korea,
-0,70%
fell 0.6% and the benchmarks in Taiwan Y9999,
-0,65%
, Singapore STI,
-1,17%
and Indonesia JAKIDX,
-0,90%
everything fell. Australian S & P / ASX 200 XJO,
-1,22%
down 1.2%.

Japanese markets have been closed for a holiday.
China on Friday ordered the closure of the US consulate in the western city of Chengdu, in retaliation for the US closure of the Chinese consulate in Houston over allegations of espionage.

“For investors, what matters is whether political escalation turns into economic escalation. So far, there is no indication yet that either side is willing to escalate the trade war in a global recession, ”wrote Stephen Innes, chief global markets strategist at AxiCorp, in a note. .
Wall Street shares sank on Thursday, dragged down by Apple AAPL declines,
-4,55%
et Microsoft MSFT,
-4,34%
.
Le Dow Jones Industrial Average DJIA,
-1,30%
closed 353.51 points down 1.3% at 26652.33, while the S&P 500 SPX index,
-1,23%
finished down 40.36 points, or 1.2%, to 3,235.66. The highly technological Nasdaq Composite Index COMP,
-2,28%
lost 244.71 points, or 2.3%, to 10,461.42.

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