Bloodbath in Asia as Markets Freefall

[Fuzz]

Asian stocks plummet straight out of the gate Friday, with Japan down 10 percent, Australia down 7 percent and South Korea down 8 percent as markets around the world are gripped by fear that a recession is imminent.

The early morning bloodbath in Asia follows Wall Street's 7 percent plunge Thursday, finishing below the key 9,000 level for its seventh straight day of losses, as coordinated interest rate cuts by the world's leading central banks did little to thaw the credit freeze and lift confidence in the financial sector.

The yen jumped to a three-year high against the euro and gained 3 percent against the battered Australian dollar as investors panicked about the sell-off in global stocks despite the array of official efforts to unfreeze credit markets.

http://www.cnbc.com/id/27106905

[endless october]

1. this is scary stuff.

[Fuzz]

2. Tell me about it. BLOODBATH?!?!?!

NIKKEI down almost 11% Already.

[4 t 4]

3. Dow Futures down another 200 n/t