HONG KONG: Asian stocks fell sharply at the open following a rough day on Wall Street, as uncertainty over US President Donald Trump’s trade policies shook markets. Traders are also awaiting key US jobs data.

Bitcoin dropped 5.7% after Trump signed an executive order for a “Strategic Bitcoin Reserve” without public cryptocurrency purchases but later recovered slightly, down 2.9%.

Despite Trump delaying tariffs on Canada and Mexico until April 2, markets remained under pressure. Trump has also refused to change steel and aluminum tariffs set to take effect next week.

"Confusion reigns" over Trump's policies, said Chris Weston from Pepperstone. Japan’s Nikkei dropped over 1.5%, while South Korea and Australia also saw declines. Chinese stocks were mostly flat, after the government set a 5% growth target, despite ongoing trade tensions with the US.

China's Foreign Minister Wang Yi warned it would "firmly counter" US trade pressure. Traders are closely watching US jobs data for February after mixed reports on jobless claims and payrolls.