Asian stocks down sharply

[MarrickG]

TOKYO - ASIAN stock markets plunged in opening trade Friday following massive losses on Wall Street amid fears over the Greek debt crisis.

Japan's benchmark Nikkei 225 stock average dropped 416.92 points, or 4.0 per cent, to 10,278.77 in the first 20 minutes of trading.

Australia's benchmark fell 2.8 per cent.

South Korean Kospi dropped 50.05 points, or 2.97 per cent, to 1,6344.66 in the first 15 minutes of trading.

Investors dumped shares across the board in Asia after the Dow Jones industrials plunged 1,000 points at one point - the biggest drop ever during a trading day - on Thursday on fears that Greece's debt problems could halt the global economic recovery.

Apart from Greece's debt crisis, a simple typographical error may have contributed to the massive U.S. selloff, and the Securities and Exchange Commission said it was reviewing what happened. The Dow later recovered some of its earlier losses, closing at 10,520.32, down 3.2 per cent. -- AP, AFP

 

[Einfield]

All the good news are gone, now get ready for all the bad news.

 

[HellAngel]

Time to separate the men from the boys.

 

[zuoom]

it's only a slight correction if one is to look at it from the massive V jump from the past 12-18 months.

 

[johnny333]

Its just a continuation of the crisis working its way through the system.

First its the US, now its Europes turn,...then maybe Asias next?

We may even see a sovereign debt crisis in Spore