by Calculated Risk on 1/21/2008 11:59:00 PM

From MoneyControl.com: Mkts hit lower circuit; trading stopped for an hour

Sensex and Nifty both opened with over 10% cut and hit the lower circuit and the trading got halted for one hour only fourth time in Indian history. Sensex opened down 9.75% or 1716.41 points at 15888.94 and Nifty was down 12.10% or 630.45 points at 4578.35. Sensex so far was down 25% and Nifty 28% from its all time high.

Meanwhile in Japan the Nikkei is down 651.01 or 5.5%. It is the same story throughout Asia.