Japan Stockmarket in freefall- Down 7% so far

[n2doc]

Japan leads Asian shares' plunge

Japan's benchmark Nikkei tumbled more than 7% in early trading echoing heavy losses on Wall Street, where fears of a global recession have shaken investors.

South Korea's Composite Stock Price Index opened down nearly 6%.

The falls came as new figures showed Japan's trade surplus plunged 94% in the last year due to weak exports and soaring energy import costs.

Meanwhile, the White House has said a global summit to tackle the financial crisis will be held next month.

http://news.bbc.co.uk/2/hi/business/7685549.stm

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1. Worldwide recession according to Roubini