Asian Markets Tumble On Wall Street Drop

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http://www.msnbc.msn.com/id/23444857/

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SEOUL, South Korea - Asian and European markets tumbled Monday as investors reacted nervously to a steep decline on Wall Street Friday after disappointing economic and corporate news rekindled worries about a U.S. recession.

Japan’s benchmark Nikkei 225 index plunged 4.5 percent to close at 12,992.18. Markets in Hong Kong, South Korea, India and Australia also fell sharply, but shares in mainland China advanced.

The declines spread into early European trading, and U.S. stock index futures also were down, suggesting Wall Street was poised for another drop Monday.

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