Portugal Colonial - Stock markets, bitcoin down as Trump policies roil markets

Bitcoin plunged as much as 5.7 percent after Trump signed an executive order to establish a "Strategic Bitcoin Reserve" without planning any public purchases of the cryptocurrency.

The unit recovered somewhat to trade down around one percent lower.

European and Asian equities were in the red despite Trump's move Thursday to delay tariffs on Canadian and Mexican goods covered under a North American trade agreement until April 2.

The halt offers temporary relief to automakers.

But Trump has said he will not modify broad tariffs for steel and aluminium imports, which are due to take effect next week.

"Even though Donald Trump has made more goods exempt from tariffs on Canada and Mexico, it's the constant tinkering that's upset investors," noted AJ Bell investment director Russ Mould.

"The fact Trump keeps changing his mind confuses matters as companies have no idea what's going on from one day to the next," he added.

The euro continued to win strong support as a planned spike in Germany's defence and infrastructure spending fuels inflation concerns and puts pressure on the European Central Bank to pause cuts to interest rates.

The ECB on Thursday reduced borrowing costs for a fifth meeting in a row amid a struggling eurozone economy.

There was brighter news Friday, however, as official data showed the eurozone economy grew by 0.9 percent last year, higher than thought.

German stocks receded Friday after data showed that Germany's industrial orders in January posted their biggest monthly fall in a year.

Investors were awaiting Friday's US jobs report for February, a key indicator of the health of the world's largest economy.

Weekly jobless claims figures released Thursday were better than expected, while Wednesday's private payroll report from ADP lagged estimates.

"Today's US jobs report wraps up a week that has brought plenty of concern around the jobs market," said Joshua Mahony, chief market analyst at Scope Markets.

He added that tariff threats and federal cutbacks are "adding up to provide a picture of economic weakness".

Japan's Nikkei shares index led losses in Asia, closing down more than two percent.

Chinese markets, which had been riding a wave of stimulus-induced optimism, ended the week modestly lower.

Chinese stocks had jumped earlier in the week after Beijing announced a growth target of around five percent at its annual meeting of the National People's Congress.

China has vowed to make domestic demand its main economic driver despite facing persistent economic headwinds and an escalating trade war with the United States.

Foreign Minister Wang Yi on Friday warned that Beijing will "firmly counter" US pressure on trade.

"China-US economic and trade ties are mutual. If you choose to cooperate, you can achieve mutually beneficial and win-win results. If you use only pressure, China will firmly counter," he said.

- Key figures around 1045 GMT -

London - FTSE 100: DOWN 0.5 percent at 8,640.01 points

Paris - CAC 40: DOWN 1.0 percent at 8,112.97

Frankfurt - DAX: DOWN 1.6 percent at 23,042.73

Tokyo - Nikkei 225: DOWN 2.2 percent at 36,887.17 (close)

Hong Kong - Hang Seng Index: DOWN 0.6 percent at 24,238 (close)

Shanghai - Composite: DOWN 0.3 percent at 3,372.55 (close)

New York - Dow: DOWN 1.0 percent at 42,579.08 (close)

Euro/dollar: UP at 1.0865 from 1.0787 on Thursday

Pound/dollar: UP at 1.2925 from 1.2882

Dollar/yen: DOWN 147.51 from 147.97

Euro/pound: UP at 84.06 pence from 83.72 pence

Brent North Sea Crude: UP 1.5 percent at 70.45 per barrel

West Texas Intermediate: UP 1.4 percent at $67.28 per barrel

M.Gameiro--PC