HONG KONG, China (CNN) -- Japan's Nikkei index plunged below 13,000 for the first time in more than two years Tuesday as global markets tumbled on fears that a U.S. economic slowdown will lead to a global recession. Tokyo investors are worried about how a possible U.S. recession could hurt exporters' profits. After dropping more than 3 percent on Monday, the Nikkei fell nearly 5 percent on opening Tuesday. Across the Korea Strait in South Korea, Seoul's KRX 100 index was down about 4 percent. Hong Kong's Hang Seng index, which fell 5.5 percent on Monday -- its largest percentage drop since the September 2001 terrorist attacks on the United States -- fell another 5 percent in opening trading on Tuesday. Shares in India's Sensex fell nearly 11 percent -- a four-month low -- on Monday. The Australian Securities Exchange was down nearly 5 percent, and the Singapore stock exchange was down about 3.7 percent in early trading. Europe's main three indices, the FT-100 in London, the CAC 40 in Paris and the DAX in Frankfurt fell between 5 and 7 percent on Monda
HONG KONG, China (CNN) -- Japan's Nikkei index plunged below 13,000 for the first time in more than two years Tuesday as global markets tumbled on fears that a U.S. economic slowdown will lead to a global recession.
Tokyo investors are worried about how a possible U.S. recession could hurt exporters' profits.
After dropping more than 3 percent on Monday, the Nikkei fell nearly 5 percent on opening Tuesday. Across the Korea Strait in South Korea, Seoul's KRX 100 index was down about 4 percent.
Hong Kong's Hang Seng index, which fell 5.5 percent on Monday -- its largest percentage drop since the September 2001 terrorist attacks on the United States -- fell another 5 percent in opening trading on Tuesday.
Shares in India's Sensex fell nearly 11 percent -- a four-month low -- on Monday.
The Australian Securities Exchange was down nearly 5 percent, and the Singapore stock exchange was down about 3.7 percent in early trading.
Europe's main three indices, the FT-100 in London, the CAC 40 in Paris and the DAX in Frankfurt fell between 5 and 7 percent on Monda
I am beginning to enjoy watching clever American and Brit bankers panic. Even talks are the same; e.g., "soft landing v. hard landing" is exactly what we tirelessly debated 15 years ago.
When you feel that the market hit the bottom and can't go any further down, it will plunge again, and again and.... I will become a patissier, God willing.
