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Monday
Aug082011

Asian Markets Down as Investors React to US Credit Downgrade

Hemera Technologies/Thinkstock(TOKYO) -- Asian markets tumbled at the open Tuesday, extending losses across the board and prompting fears of a recession after witnessing the economic crisis gripping the United States.

The Nikkei was down four percent in the first hour of trading, falling below the key 9,000 line for the first time since the March disasters.

Key indexes across Asia fell between two and five percent, as concerns about the U.S. credit rating downgrade continued to weigh on investors.

Copyright 2011 ABC News Radio

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