Stock markets in Asia have fallen sharply on opening, amid investor fears that Greece’s debt crisis could halt the global economic recovery.
Japan’s benchmark Nikkei index lost 437 points, or 4%, while Australia’s S&P shed 132 points, or 2.8%.
It comes a day after US markets had their worst day since 1987, with the Dow Jones falling 9%, before rallying.
Also on Thursday, Greece approved the hefty cuts to address the country’s economic crisis, amid violent protests.
The DowJones recovered to end down about 3.2% on Thursday.
Losses also hit markets throughout Latin America.
The worst were at Buenos Aires’ Merval Index, which closed down 5.4%.
"The reason for today’s fall is what everybody knows – Greece," Hideaki Higashi, of Tokyo-based SMBC Friend Securities, told the news agency AFP on Friday.
"The market is factoring in the possibility that this Greek problem will spread to Spain and Portugal."
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