AP: World markets plunge for second day [View All]

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World markets plunge for second day

By HANS GREIMEL, Associated Press Writer 46 minutes ago

TOKYO - Stock markets plunged across much of Asia for a second day Wednesday amid jitters about a sell-off in China's stock market and a worries about a possible slowdown in the Chinese and U.S. economies.


Shares in Tokyo, Hong Kong, Singapore, Malaysia, Australia, New Zealand, the Philippines and Indonesia all tumbled more than 3 percent in morning trading, following dismal overnight losses on Wall Street, the worst since the Sept. 11, 2001, terrorist attacks.

In China, stock modestly recovered from their 9 percent plunge Tuesday — their biggest drop in a decade. The Shanghai Composite Index was up 1.2 percent to 2,804.28.

But investors in other Asian markets dumped shares Wednesday, with Japan's Nikkei 225 stock index down 644.85 points, or 3.56 percent, to 17,475.07 points at the close of the morning session.......

http://news.yahoo.com/s/ap/20070228/ap_on_bi_ge/world_markets;_ylt=ApywEg8MvtFZlqaf2HcPRBOs0NUE