Asian markets are continuing their slide this morning after yesterday’s plunge wiped billions of euros off the value of stocks. At the end of morning trading Tokyo’s Nikkei Index had lost three and a half per cent. Tokyo’s futures index, TOPIX, was down four per cent, heavily affected by losses in normally strong stocks like Nippon Steel, forcing a suspension of trading but only for a few minutes.
Shanghai, which kicked off the domino effect, has rebounded a little but too late to rectify the dramatic fall in the Dow Jones which saw its biggest slump since 9/11. At one stage the exchange’s electronic trading system collapsed under the volume of sales.