Shares in shipping companies fell heavily across Asia on Friday after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected.

The U.S. port strike, which is now in its third day, could impact a host of consumer-staples companies spanning whiskey, fruit, pasta sauce and beauty products, according to Bank of America. The strike by the International Longshoremen’s Association has shut down ports from Maine to Texas and has also thrust U.

"The longer this goes, the more the impact scales, and really it starts to scale exponentially," Stifel analyst Bruce Chan said of the port strike.