Asian stocks sink on fresh fears of US recession
Stock markets in Asia opened sharply lower today, following a day of sharp losses in markets around the world.business Updated: Aug 19, 2011 07:52 IST
Stock markets in Asia opened sharply lower on Friday, following a day of sharp losses in markets around the world.
Japan's Nikkei 225 index was down 183.46 points, or 2.1%, at 8,760.30 in early morning trading.
Australia's benchmark S&P/ASX 200 index was down 117.2 points, or 2.8%, at 4,134.1, and New Zealand's NZX 50 fell 36.35 points, or 1.1%, to 3,249.86.
Global markets plunged on Thursday amid rising signs of a US recession and renewed worries over the financial health of Europe's banks.
In the US, the Dow Jones industrial average slid 3.7% on Thursday to 10,990.58. In Europe, Britain's FTSE 100 closed down 4.5% at 5,092.23, while Germany's DAX fell 5.8% to 5,602.80.