Shares in Asia-Pacific declined on Thursday following losses overnight that saw the Dow Jones Industrial Average notching its first decline of 2022.
In Japan, the Nikkei 225 index cratered 844.29 points, or 2.9%, to 28,487.87.
The Japanese yen traded at 115.73 per U.S. dollar, still weaker than levels below 115.5 seen against the greenback earlier in the week.
The Hang Seng index in Hong Kong recovered 165.81 points, or 0.7%, to 23,072.86.
Chinese technology stocks listed in the city rose on the day, with Tencent up 1.5% while Alibaba jumped 5.7% and Meituan climbed 3.6%.
Hong Kong-listed shares of debt-ridden developer China Evergrande Group surged 3.1%. Reuters reported that the firm will seek a six-month delay in making payments on an onshore bond.
Australian stocks also saw heavy losses as shares of Afterpay plunged nearly 11%.
The Australian dollar changed hands at $0.7158 after seeing an earlier high of $0.7222.
In other markets
In China, the CSI 300 docked 49.89 points, or 1%, to 4,818.23.
In Korea, the Kospi index dropped 33.44 points, or 1.1%, to 2,920.53.
In Taiwan, the Taiex index subtracted 132.04 points, or 0.7%, to 18,367.92.
In Singapore, the Straits Times Index regained 20.86 points, or 0.7%, to 3,184.30.
In New Zealand, the NZX 50 gave back 167.37 points, or 1.3%, to 12,983.01.
In Australia, the ASX 200 tumbled 207.53 points, or 2.7%, at 7,358.52.
