Another grizzly day in Asian stock markets. Investors spooked by the ongoing global credit crisis and driving shares sharply lower.
Japan's Nikkei fell to a 3 year low in early trade. Also sharp losses in Korea leaving investors visibly nervous.
Macquarie bank of Australia fell as much 21 percent as the credit crisis also weighed on Australian shares. Emergency actions by central banks around the world has failed to ease a financial crisis.
Even traditional safe haven plays such as gold were volatile during trade. After posting its biggest one day rise on Wall Street the precious metal extended gains in Asia then suddenly turned south.