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Foreign Markets Follow Wall Street's Plunge

RENEE MONTAGNE, host:

NPR's business news starts with global markets spooked by the recession.

(Soundbite of music)

MONTAGNE: Stock investors in Asia headed for the exits today. Japan's main index fell more than six percent. South Korea was down more than three percent. Hong Kong's main stock average fell nearly five percent, partly on grim economic news out of China.

STEVE INSKEEP, host:

And partly, perhaps, on grim economic news out of the United States, the Dow fell nearly eight percent yesterday, and that came after the National Bureau of Economic Research issued a report declaring that the U.S. is officially in recession. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.