Indian markets were relatively better off, down around 2% in early morning trading, while shares in Japan, Taiwan and China and Pacific markets including Australia and New Zealand, quoted deeper into the red.
In its first trading session after the U.S. experienced its first decline in the sovereign rating, the U.S. market fell sharply last night to record their biggest fall since December 2008.
Reference in the U.S., the Dow Jones Industrial Average (DJIA) index plunged 635 points Monday, marking the sixth largest one-day drop in more than 100 years.
Weak signals from the United States led to a collapse of Asian stock markets continued this morning, experts say.
While the decline in Hong Kong and South Korea were more than 6%, a decrease of Australia and New Zealand by 3-4%.
Japanese Nikkei 225 index was also down over 4%.
Investors worldwide are worried that increased the worries of debt in the U.S. and Europe will affect investor confidence in general, while exports of many Asian countries could be affected in the wake of the crisis increasing economic in the West.