Asian markets are in a slump. CNN reports that it began as a result of US President Donald Trump's trade war and China's strong response to unexpectedly high tariffs.
Japan's main Nikkei index fell more than 8%, while the broader Topix index was last down 6.5%, recovering from a significant drop.
The Shanghai Composite Index was last down 6.7% in China, and the CSI300 Index lost 7.5%. Hong Kong's Hang Seng Index opened more than 9% lower.
Chinese tech giants Alibaba and Tencent fell more than 14% and 10%, respectively.
South Korea's Kospi fell more than 4.8% in early trade.
US stock futures fell sharply on Sunday evening after two selling sessions, wiping out more than $5.4 trillion in market value. US stock indexes fell sharply on Friday after China responded sharply to the action by imposing 34% tariffs on all American goods.
