Asian Markets Take a Thrashing

Regional economies remain robust, but investors are unnerved about the impact on exports of a slowdown in the U.S. economy

It's the gift that keeps on giving. Back in late February, a near-10% decline in Chinese stock markets whipped up a miasma of selling that spread to Wall Street, Europe, and other parts of Asia. That was followed by a stretch of relatively stable markets globally—that stretch has ended. As evidence gathers that U.S. growth could be crimped by default worries in the subprime mortgage market, some serious wealth is getting vaporized again.

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