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“People have gotten very nervous,” Tohru Sasaki, a foreign exchange strategist at JP Morgan Chase, said. “We don’t know if we’ll be able to make it to work tomorrow.”
Unlike on Monday, when stock market losses were largely confined to Japan, the nervousness spread across the Asia-Pacific region on Tuesday.
The Kospi in South Korea dropped 2.4 percent, the Taiex in Taiwan fell 3.4 percent and the Hang Seng in Hong Kong sagged 3.3 percent.
The key index in Australia was 2.1 percent lower, Singapore fell 2.5 percent, and the Sensex in India declined 1.2 percent. In mainland China, the Shanghai composite index dropped 1.9 percent.
European and U.S. markets also were expected to open lower.
“Today is a panic day,” said Beat Lenherr, chief global strategist at LGT Capital Management in Singapore. “The question is: Where is the bottom?
Japanese stocks plunged 10.6 percent on Tuesday, posting the worst two-day losing streak
since 1987, on reports of rising radiation near Tokyo, suggesting any deterioration at a quake-hit nuclear plant could trigger more panic selling led by hedge funds.
Originally posted by zorgon
Well you can always count on the investors to be like the rats on a sinking ship