European markets set to dive on the opening bell on Friday after huge sell-off overnight in Asia, where US-China tit-for-tat will be most felt. Follow all the action here

Nikkei down 4% as investors fear damaging confrontation
Trump imposes tariffs on China
Australia fears swift end to tariff exemption

Spreadbetters are forecasting that the FTSE100 will lose about 0.8% when trading starts in London in an hour or so.

#FTSE100 Index called to open -70pts at 6890 pic.twitter.com/cu9OuMaxGv

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The Kospi index in Seoul, South Korea has closed down 3.29% , or 82 points at 2,414.

The country has a large export industry and stands to lose out if there is a trade war between the US and China. It’s largest trading partner is China and the US is its second biggest.

I’m worried that it would affect the national economy. If the US imposes tariffs on China like that, I think there would be some damage on us in the long term as well.

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Read More US tariffs: Asian shares plummet as China signals retaliation – live

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