Markets in Asia fell sharply.

The Nikkei dropped 1.8% to 10,325.

The Hang Seng fell 2.1% to 20,157.

The Shanghai Composite dropped 2.4% to 3,019 as the Chinese government put in new bank reserve rules.

At the open in Europe, the FTSE fell .7% to 5,223. Rio Tinto (NYSE:RTP) and BHP Billiton (NYSE:BHP) both sold off. The Dax dropped .7% to 5,592. The CAC 40 was down .9% to 3,747.

Data from Reuters and MarketWatch.

Douglas A. McIntyre