Stocks, Asia | featured news

Stock markets in Asia opened sharply lower Friday amid signs of a possible U.S. recession and renewed worries over the financial health of Europe's banks.

A credit agency warning that Greece could face default if it follows an international plan designed to help the country cope with its massive debts caused Asian markets to stall Tuesday.

Billionaire investor Warren Buffett said on Monday that Japanese stocks were good investments after the deadly earthquake that hit the world's third-biggest economy last week.

Concerns over the deteriorating condition of Japan's stricken nuclear reactors, and the effect on global economies, sparked the Dow's biggest selloff since August and left the S&P 500 in the red for 2011.

Japan's central bank injected a record 7 trillion yen ($85.5 billion) into money markets and the Tokyo stock market nosedived Monday on the first business day since an earthquake and tsunami devastated the country's northeast and raised dire worries about the economy.

Wall Street tumbled Tuesday, with the Dow down over 200 points, following new worries about rising inflation in Asia and the possibility Ireland might need a bailout.

ChinaCache International Holdings, a provider of Internet content, soared 95% on its Nasdaq trading.

The tone for Wall Street’s retreat was set before the opening bell with markets in Asia and Europe also falling.

Dow plummets nearly 220 points after trade deficit unexpectedly widens and reports from Asia, Europe spurs concerns recovery is veering off track.

The Dow industrials fell below 10,000 again after an index of China’s economy was revised downward.