Asian markets plummet after Wall Street sell-off

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Stock markets in Asia plummeted Tuesday after the worst sell-off on Wall Street in more than 6 years over signs of higher inflation and interest rates. It came as futures for U.S. markets suggested that more losses are still to come.

The Japanese stock market index Nikkei 225 was down more than 1,500 points (6.6 percent) on early Tuesday afternoon. The Shanghai Composite in China was down 75 points (2.1 percent) and the KOSPI in South Korea was down 68 points (2.7 percent).

Global markets have been falling over the past week, but Monday’s sell-off in the United States was by far the worst so far. The Dow Jones Industrial Average fell 1,175 points (4.6 percent), the biggest one-day point drop in history and the worst day by percentage points since August 2011.

Other indexes also fell. The S&P 500 index fell 113 points (4.1 percent), the NASDAQ Composite fell 273 points (3.78 percent), and the Russell 2000 index of smaller-company stocks closed down 56 points (3.6 percent).

Investors fear that the sell-off on Wall Street will continue when markets re-open on Tuesday morning. Futures for the Dow Jones Industrial Average were down 800 points (3.4 percent) at 11:20 p.m. ET, which could indicate a significant drop when trading resumes.

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