Asian Markets Plunge Again

Key indexes down across board amid continuing recession fears
By Peter Fearon,  Newser Staff
Posted Oct 16, 2008 1:52 AM CDT
Asian Markets Plunge Again
Pedestrians walk beside an electric stock market board in Tokyo Thursday. The benchmark Nikkei 225 stock average dropped 985.95 points.   (AP Photo/Katsumi Kasahara)

Share prices tumbled in Asia again today amid fears of a US recession and a braking global economy, reports MarketWatch. The key Nikkei 225 Stock Average plummeted 10%, the Hang Seng Index dropped 7.6%, and the China Enterprises Index lost 9.9%. The MSCI Asian Pacific Index—set for its biggest drop in history—plunged 7.8%, and Australia's S&P/ASX 200 index slid 6.9%.

"We're having a U-turn in perception,'' said a top analyst. "While remedial measures taken globally have been sufficient to arrest the financial crisis, concerns have quickly shifted to the economy." (More Nikkei 225 Stock Average stories.)

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