Asian shares were set to decline at the open on Friday, taking cues from U.S. indexes which extended sharp losses in the last session.
U.S. stocks plummeted once again on Thursday as investors worried over higher U.S. bond yields.
The moves came after the yield on the 10-year U.S. Treasury note neared its highest levels in four years after the Bank of England indicated the need for interest rates to rise more and sooner than earlier forecast.
The Dow Jones industrial average moved into correction territory after falling 1,032.89 points, or 4.15 percent, to close at 23,860.46. The S&P 500 lost 3.75 percent to end at 2,581 and the Nasdaq composite lost 3.9 percent to finish the session at 6,777.16.
Meanwhile, the yield on the benchmark 10-year U.S. Treasury note last stood at 2.83 percent after rising as high as 2.88 percent on Thursday.
The most recent stock market declines are a continuation of the sell-off that began last Friday when U.S. bond yields rose on the back of a better-than-expected jobs print.
European equities had finished the last session in the red with the pan-European Stoxx 600 down 1.6 percent.
