Markets in Asia were sharply lower on concerns about Dubai debt.

The Nikkei fell 3.2% to 9,082. Honda (NYSE:HMC) and Mitsubishi UFJ (NYSE:MTU) fell.

The Hang Seng dropped 4.8% to 21,135. HSBC (NYSE:HBC) fell sharply.

The Shangai Composite was off 2.4% to 3,096.

At the open in Europe, the FTSE fell .4% to 5,162. The Dax was down .6% to 5,578 and the CAC 40 slipped .5%.

Data from Reuters and MarketWatch.

Douglas A. McIntyre