Hong Kong (CNN Business) Asian markets were somewhat tepid Friday as worries persist over the global economy.

Nikkei 225 N225 Kospi KOSPI Hang Seng Index HSI Japan'sfell 0.2%. South Korea'swas bouncing between small gains and losses. Hong Kong'smoved slightly lower.

Continued uncertainty over several trade disputes has investors on edge. Plans by the United States to soon impose tariffs on $7.5 billion worth of European exports added another complication this week to the pile of concerns that investors are considering.

Overnight in the United States, markets experienced a volatile day of trading. The Dow fell by as much as 335 points after the Institute of Supply Management reported worse-than-expected growth for the US services sector.

The index rallied back, though, to close higher as investors' hopes for a rate cut by the Federal Reserve rose.

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