Asian Markets are falling off a cliff. Again.

[Speck Tater]

http://finance.yahoo.com/intlindices?e=asia

Seoul and Hang Sen both near 4% down. Seoul not quite 4%, and Hang Sen flirting with 5% down. Others all close to -3% give or take a few tenths.

[aquart]

1. Why?

[Lionessa]

2. Yep but European stocks are starting to recover. In answer to above, Italy in trouble now too

And the thoughts are that the EU may be collapsing as we know it.

[Prometheus Bound]

3. Three banks are responsible for half of Hong Kong's 5.3% drop.

- HSBC, Europe's largest lender plunged 9.1% because of falling profits and EU fears.

- ICBC, a Chinese bank, which I believe is the largest lender in the world, fell 8.7% because Goldman Sacs sold its share.

- China Construction Bank was down 5.4%.

Not to worry, though. Tsingtao Brewery was up 1%. All is good.

[DCBob]

4. Europe markets up and US futures up significantly at the moment...

due to some glimmers of hope from europe. We shall how it plays it out.