Global stock sell-off intensifies amid fears of U.S. recession

"Asia-Pacific markets continued the sell-off from last week, while investors awaited key trade data from China and Taiwan this week, as well as central bank decisions from Australia and

India.
Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. Heavyweight trading houses such as Mitsubishi, Mitsui and Co, Sumitomo and Marubeni all plunged around 10%. Taiwan’s benchmark index, Taiex, was down almost 8%, while Australia’s S&P/ASX 200 fell 2.84%. South Korea’s Kospi was down 4.38%, while the Kosdaq fell 4.63%.
Hong Kong’s Hang Seng index saw the smallest loss in Asia, inching down 0.22%, while mainland China’s CSI 300 was marginally up, the only major index in positive territory.
On Friday in the U.S., stocks fell sharply as a much weaker-than-anticipated jobs report for July ignited worries that the economy could be falling into a recession." MS