Tokyo tanked as it led losses across Asia on Friday owing to a stronger yen and expectations for more Japanese rate hikes, and after disappointing data sparked a plunge on Wall Street and fuelled fresh fears of a US recession.
The optimism that greeted Federal Reserve boss Jerome Powell's indication on Wednesday that borrowing costs could be cut in September has given way to trepidation that the slowdown in the world's number one economy might be more pronounced than previously thought.
