Asian stock markets tumbled Apr. 7, after a sharp selloff on Wall Street, driven by escalating US-China trade tensions.

Japan’s Nikkei 225 fell nearly 8% in early trading before trimming losses to 6%, closing at 31,758.28 by midday. Hong Kong’s Hang Seng dropped 9.4% to 20,703.30, while China’s Shanghai Composite declined 6.2% to 3,134.98.

South Korea’s Kospi slid 4.1%, and Australia’s S&P/ASX 200 lost 3.8%.

The turmoil followed China’s announcement of retaliatory tariffs matching a 34% US levy on Chinese imports. Beijing plans to impose tariffs on all US imports starting Apr. 10.

US futures signaled further losses, and Apr. 4’s Wall Street decline saw the S&P 500 drop 6%, the Dow fall 5.5%, and the Nasdaq lose 5.8%. Oil prices also dipped, with US crude down 4% and Brent crude down 3.4%.

The dollar weakened against the yen and euro, while analysts warned of continued volatility.