• USD/JPY down 1.1% in Asia as JPY rallies broadly on risk aversion

• Markets brace for global trade war as China hits U.S. back on tariffs

• S&P E-Mini down 4%, Nasdaq futures -4.8%, Nikkei futures down 3.1%

• Fed futures imply 120 bps of cuts in 2025 despite Powell's inflation fears

• US Commerce chief: Tariffs to remain in place for days, weeks

• Over 50 nations want to start trade talks with US after tariffs-US officials

• China says will continue to take resolute steps to safeguard its interests

• Supports 144.55, Fri low followed by 144.14 , 76.4% of Sep-Jan rally

• Resistances 145.90-146.00, 147.20; Asia range 147.20-145.00

• Friday range 144.55-147.425
Trump tariffs bleed a record trillion in value from U.S. stocks:

(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)