Asian markets plummet on worries about U.S. economy

07/15/2008 | MarketWatch

Markets throughout Asia sank Tuesday as financial and banking stocks faltered amid concerns about the U.S. economy. Particularly hard hit were Taiwan's Taiex, which dipped 3.8% to 6,885.83, and Japan's Topix index -- which receded to 1,254.49, a drop of 2.1% -- and Nikkei 225 Average, which dropped 2% to 12,745.68. The Shanghai Composite in China sank 2.5% to 2,805.92, and the Hang Seng Index in Hong Kong was down 3.4% to 21,258.91. Also slipping were markets in Australia, New Zealand, Singapore, India and South Korea.

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