Following the steep falls seen in US and European markets on Friday, Asian shares have been hosed in early Monday trade.
The Nikkei in Japan has sunk 2.07% to 19034.1, with the index now at its lowest level since early April. Since hitting an August 11 high of 20946.9, the index has now lost 9.21%.
In Australia, the losses are even greater with the benchmark ASX 200 currently off 2.20%. At 5100.5, it’s at the lowest level since February 6, 2014. From this year’s high of 5996.9 it’s lost 15% – 11% alone since August 4.
The KOSPI in South Korea is the relative outperformer, only losing 0.53%.
Having fallen by more than 3% on Friday, US stock futures are also under pressure. In early trade they’re lower by between 0.6-0.7%.
Chinese stocks, likely to be the centre of attention again in Asia, will resume trade at 11.30am AEST.