Asian Shares Slide On Inflation, AI Spending Worries

Asian stocks declined on Friday as surging oil prices amid escalating Middle East tensions fueled concerns over energy-driven inflation.

Adding fresh uncertainty to an already shaky global economy, the Trump administration said that it would impose higher tariffs on goods from 60 trading partners, citing forced labor concerns.

The tariffs, ranging from 10 percent to 12.5 percent, would impact major economies like the European Union, U.K., China, India, Japan and Canada. The measures replace a temporary 10 percent global tariff that expires today.