Asian markets tumble on Lehman collapse

Asian markets tumble on Lehman collapse

www.cnn.com

Japan's Nikkei index fell 4.9 percent and Hong Kong's Hang Seng Index declined 5.5 percent while a leading indicator of stock values in South Korea -- the KOSPI index -- went down 6.1 percent.

The stocks tumbled a day after earth-shaking news in the U.S. financial industry sent shock waves up and down Wall Street, raising fears in Asia that a decline in U.S. consumer spending could hurt export-driven economies in Asia.

Asian stock markets were closed Monday, so Tuesday's trading gave Asian traders their first opportunity to react to news from the United States.

(visit the link for the full news article)

Globalization at its finest.

www.cnn.com
(visit the link for the full news article)