• U.S. stocks fell sharply on Thursday following a dire quarterly warning from Apple. The iPhone maker blamed a slowing Chinese economy for the shortfall, intensifying fears that the global economy may be slowing down because of the ongoing trade war.

A weaker-than-expected reading on U.S. manufacturing added to those fears.

The Dow Jones Industrial Average dropped 660.02 points, or 2.8 percent, to 22,686.22 as Apple shares led the decline. The 30-stock index tumbled to its low of the day right before the close, trading down as much as 707.83 points.

The S&P 500 pulled back 2.47 percent to 2,447.89 as the tech sector fell 5.07 percent. The Nasdaq Composite tumbled 3 percent to 6,463.50, snapping a five-day winning streak, as Apple's stock dropped nearly 10 percent. Thursday marked Apple's worst session since 2013.

• Asia markets traded lower on Friday following sharp declines in U.S. stocks overnight as a dire quarterly warning from Apple stoked fears of a slowdown in the global economy.

Japan's Nikkei 225 dropped about 3.45 percent in early trade while the Topix index fell 2.9 percent, with almost all sectors seeing declines. Japanese conglomerate Softbank fell more than 4.5 percent and Fast Retailing, the company behind the Uniqlo chain of apparel stores, declined more than 3.5percent. Stocks in Japan were closed on Wednesday and Thursday for public holidays.

South Korea's Kospi slipped about 0.2 percent.

Reference: CNBC