Stocks fell after the US pushed ahead with tariffs on automakers, reinforcing concern about a widening trade war and offsetting data that showed faster-than-estimated growth. Bonds also signaled concerns about the impact of tariffs on inflation as short-dated Treasuries outperformed longer ones.

Chinese President Xi Jinping vowed to improve market access at a meeting with a group of global business leaders in Beijing, in an effort to boost investor sentiment as rising tariffs fuel uncertainty for the economy and international trade.

Shares in Asia slide on concerns about looming US tariffs, led by losses in Japan and South Korea. Gold rises to a record on haven demand. Global investors are cutting back risk ahead of next week's announcements on levies, while keeping cash ready to pounce the moment opportunities arise.

Mainland Chinese stocks edge down, faring better than regional peers. President Xi Jinping vowed to improve market access at a meeting with a group of global business leaders in Beijing, in an effort to shore up investor sentiment.

The US is pushing to control all major future infrastructure and mineral investments in Ukraine, a move that would give it enormous power to control investments in projects including roads and railways, ports, mines, oil and gas, and extraction of critical minerals.