US Woes Send Asian Stocks Tumbling

Nikkei, Hang Seng have their worst day in weeks
By Jason Farago,  Newser Staff
Posted Jun 23, 2009 5:43 AM CDT
Japanese shares sagged Tuesday after losses overnight on Wall Street while investors looked to the Federal Reserve's upcoming policy meeting for fresh cues on the global economy.   (AP Photo/Shizuo Kambayashi)
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(Newser) – Stocks in Asia tumbled to their worst finish in weeks, reports the Wall Street Journal, as continued fears about the US economy led to a sell-off of resource companies and exporters. The Nikkei in Tokyo and the Hang Seng in Hong Kong both closed down about 3%, echoing a decline on Wall Street yesterday. "Any Asian companies that depend on Americans for a big chunk of their sales need to prepare for lots of red ink," said one market watcher.
(Read more Nikkei stories.)