China Worries Worsen Asian Plunge

Stock markets in Asia continue to plummet on concerns about a U.S. recession and a slowdown in China's economic growth
Investors react to stock indexes at a securities company on January 17, 2008 in Chongqing Municipality, China. Following a dive in US stocks, the Shanghai Composite Index closed with the largest one-day decline in six weeks. (Photo by China Photos/Getty Images)

Asia-Pacific markets last year were propped up by investor confidence that China and its hot economy would offset negative impact from any slowdown in the U.S. That Chinese life raft is now seriously leaking. Stock markets throughout Asia took a hammering on Jan. 21. And with the U.S. futures markets expecting a 500-point plunge in the Dow Jones industrial average when American markets reopen, the rout continued on Jan. 22 in Asia as worries about a recession in the U.S. and a slowdown in China continued to scare away investors.

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