U.S. stock indices fell on Friday with biotechnology companies leading declines this time.

Biogen dropped 22% on weak sales outlook.

The Dow Jones Industrial Average fell 163.39 points, or 0.9%, to 17568.53 Friday. The S&P 500 declined 22.50 points, or 1.1%, to 2079.65, and the Nasdaq Composite lost 57.78 points, or 1.1%, to 5088.63.

For the week, the Dow Jones lost 2.9%, while the S&P 500 tumbled 2.2%.

In Asia this morning Hong Kong Hang Seng fell 2.67%, or 671.42 points, to 24,457.09. China Shanghai Composite Index fell 3.09%, or 125.63 points, to 3,945.28. The Nikkei lost 1.19%, or 244.77 points, to 20,299.76.

Stocks fell across Asia amid declines in U.S. indices, which were caused by corporate earnings reports. Chinese stocks were also influenced by concerns over activity in the industrial sector of the country's economy. Official data showed that revenues of Chinese industrial companies fell by 0.7% in the first half of the current year compared to last year.