SYDNEY (Reuters) - Asia stocks followed Wall Street futures lower on Monday as investors struggled to price in the risk of imminent U.S. tariffs with so little still known about what form or scope the levies will take.

S&P 500 futures fell 0.6% in early trade, extending Friday's rout, while Nasdaq futures lost 1.1%. Treasury yields also dropped further as funds sought any safe harbour, while gold reached another record peak.

President Donald Trump on Friday said he was open to carving out deals with countries seeking to avoid tariffs, but media reports over the weekend claimed he was urging his advisers to be more aggressive with their plans.

Speaking to reporters late Sunday he said the tariffs would essentially hit all countries, causing renewed ripples in Asian markets.

Trump is due to receive their recommendations on Tuesday and announce initial tariffs on Wednesday, followed by auto levies the day after. Yet it is still not clear how high the tariffs will be or what countries and goods they will cover.

The European Union was ready to respond with tariffs of its own, German Chancellor Olaf Scholz said on Sunday, but there were also reports the block was preparing a list of concessions to offer to Trump.

Many economists are worried that tariffs will hit the U.S. economy hard, even while limiting the Federal Reserve's scope to cut rates by also lifting inflation in the short term.

"Recession risks have become elevated - to a 40% probability - on concerns that aggressive U.S. policies hit business and household sentiment," warned Bruce Kasman, chief economist at JPMorgan.

"With the latest tariff increases set to push U.S. core inflation above 4% next quarter, a household sector with a healthy balance will need to show a willingness to lower its saving rate to cushion this blow."

Data out on Friday underlined the risks as a key measure of core inflation rose by more than expected in February while consumer spending disappointed.

That raised the stakes for the March payrolls report due on Friday where any outcome below the 140,000 gain expected would only add to recession fears. Also due are a rush of surveys on factories and services, along with figures on trade and job openings.

The threat of a global trade war likewise sent a chill through Asia, where MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.5%.

Japan's Nikkei tumbled 3.2% as automaker stocks continued to suffer fallout from Trump's talk of 25% tariffs on imported cars and light trucks.

Bond investors seem to be betting the slowdown in U.S. economic growth will outweigh a temporary lift in inflation and prompt the Fed to cut rates by around 70 basis points this year.

This, combined with a flight from risk assets, saw 10-year Treasury yields drop to 4.215%.

The outlook for rates could become clearer when Fed Chair Jerome Powell speaks on Friday, following a host of other Fed speakers this week.

The drop in yields saw the dollar dip 0.1% to 149.35 yen, while the euro was steady at $1.0825. The dollar index held at 104.00, having slipped for the previous two sessions.

The perceived safety of gold saw the metal hit another all-time high at $3,097 an ounce. [GOL/]

Oil prices have been supported by U.S. sanctions against producers Venezuela and Iran, though the risk of slower global growth remained a headwind. [O/R]

Trump on Sunday also said he would impose secondary tariffs of 25% to 50% on all Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine.

Brent rose 8 cents to $73.68 a barrel, while U.S. crude added 2 cents to $69.38 per barrel.

(Editing by Shri Navaratnam)