Markets in Asia were sharply lower.

The Nikkei dropped 9.6% to 7,649. Sony (SNE) fell after warning on earnings. Honda (HMC) and Toyota (TM) were both down over 5%.

The Hang Seng dropped 7.2% to 12,722. HSBC (HBC) was off over 6%.

The Shanghai Composite fell 1.9% to 1,840.

At the open in Europe, the FTSE was off 3.3% to 3,954. The DAX dropped 5.5% to 4,271. The CAC 50 was down 4.9% to 3,148.

Data from Reuters.

Douglas A. McIntyre