The defence ministry said it intercepted 50 Ukrainian drones overnight
The US Federal Reserve’s light-touch stimulus on Wednesday also weighed on share prices with concerns it will not be enough to boost the stuttering economy.
Tokyo fell 0.29 percent, or 25.72 points, to 8,798.35, Seoul tumbled 2.22 percent, or 41.75 points, to 1,847.40 while Sydney fell 0.96 percent, or 39.4 points, to 4,048.2.
Hong Kong dived 1.08 percent in the afternoon.
Fears of a slowdown in the global economy were stoked by figures from HSBC on Thursday showing manufacturing activity in the world’s number two economy at its lowest level in seven months in June.
The preliminary June purchasing managers index (PMI) figure marked the eighth consecutive month that manufacturing has contracted.
And eurozone private sector activity sank to the lowest level for three years in the second quarter, a survey showed on Thursday.
The PMI compiled by business research firm Markit was stuck at 46 points in June, the same level as May, indicating another month of contraction in activity.
Adding to the gloom was Moody’s decision to cut the credit ratings of 15 of the biggest names in banking, including Goldman Sachs, Barclays, Citigroup, HSBC and Deutsche Bank.
Moody’s said the banks were exposed to the roiling financial crisis and to each other.
Four firms were downgraded by one notch, 10 firms by two notches and one by three notches.
The Fed said Wednesday that it would extend Operation Twist — selling short-term debt to buy longer term Treasuries — for another six months and was “prepared to take further action” if needed.
But the move left traders who had hoped for a third round of monetary stimulus — or quantitative easing — unimpressed.
The Fed, after a two-day meeting, also predicted US growth would be even worse than thought this year, forecasting 2012 growth of between 1.9 and 2.4 percent — a half point cut from predictions made as recently as April.
Chairman Ben Bernanke also pointed to slower progress in reducing unemployment and to spillovers from Europe’s economic crisis.
“Signs of a global slowdown are likely to weigh on overall market sentiment,” Yutaka Miura, Mizuho Securities senior technical analyst, told Dow Jones Newswires.
The Dow ended 1.96 percent lower, the S&P 500 dived 2.23 percent and the Nasdaq dropped 2.44 percent.
And in Spain the central bank said new stress tests showed the country’s banks need between 16 and 62 billion euros in extra capital to stabilise them, in line with market expectations of a shortfall of 60-70 billion euros.
The figure is well within the 100 billion euros rescue cash the European Commission, the European Central Bank and the International Monetary Fund had earmarked for Madrid to help its troubled lenders.
Earlier Thursday, Spain showed it could still tap the bond market at a pivotal time by easily raising 2.22 billion euros in a mixture of two, three and five-year bonds. But it had to pay soaring rates to lure investors.
On currency markets the dollar stood at 80.44 yen, down from 80.26 yen late Thursday in New York.
The euro bought $1.2560, up from $1.2543 in New York but well off the levels around $1.2680 in Asia on Thursday.
It also bought 101.03 yen, compared with 100.68 yen in New York.
Oil was up in early Asian trade after suffering heavy losses in the United States.
New York’s main contract, light sweet crude for delivery in August, gained 33 cents to $78.53 a barrel in the afternoon, up from $78.20 in New York, its lowest level since the beginning of October.
Brent North Sea crude for August delivery advanced 65 cents to $89.88 after tumbling to $89.23 in late Thursday trade, dipping below the $90 line for the first time since December 2010.
Gold was at $1,562.90 an ounce at 0600 GMT, compared with $1,586.50 late Thursday.
The defence ministry said it intercepted 50 Ukrainian drones overnight
Media reports had suggested the trip would begin as soon as Sunday and last two days
Visitors can enjoy movies with family favourites, including ‘The Jungle Book’, ‘Jumanji’ and ‘Zootopia’ to match the wild theme every evening from 8pm
Sheikh Mohamed conveyed his congratulations to all eight honourees, recognising their inspiring efforts and significant contributions in service to society
His father thanked everyone who participated in the search mission despite the challenges posed by flooding in various parts of the emirate
It will be humid by night and Sunday morning with a probability of mist formation over some coastal and internal areas
Nearly 6,000 volunteers linked to a single support group are working tirelessly across the country to help those affected
Real estate developer MAG pledges to cover all the costs of necessary repairs for affected residents