A 7.4 magnitude earthquake struck off the southern coasts of Chile and Argentina on Friday, the US Geological Survey stated.

There were no immediate reports of damage or casualties.

Two more suspected aftershocks were reported as well.

However, Chilean authorities issued an evacuation alert for the entire coastal section of the Strait of Magellan, which is in the far south of the country.

A tsunami warning was issued for coastal areas within 185 miles of the epicenter, with the U.S. National Weather Service's Pacific Tsunami Warning Center warning that a series of hazardous waves was possible.

"We call for evacuation of the coastline throughout the Magallanes region," Chile's President Gabriel Boric posted on social media after an emergency service alert.

Boric said "all resources are available" to respond. "Right now, our duty is to be prepared and heed the authorities," he wrote.

According to the  USGS, the quake's epicenter was under the ocean 219 kilometers (173 miles) south of the Argentinian city of Ushuaia, in the Drake Passage between Cape Horn and Antarctica.