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Asian markets continue plunge - CNN.com

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

by Fran on Mon Jan 21st, 2008 at 11:16:12 PM EST
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