Asian shares plunge after Wall Street’s biggest drop since 1987

Asian shares plunged today (Friday), with benchmarks in Japan, Thailand, and India sinking as much as 10 percent after Wall Street suffered its biggest drop since 1987.

Trading was halted temporarily in Bangkok and Mumbai after main benchmarks in both markets hit a 10 percent downside limit.

After trading resumed, Thailand’s SET 100 was down 8.7 percent and Sensex in Mumbai had swooned 9.4 percent. Most other regional markets had lost between 4 to 6 percent by midday Friday in Asia.

The S&P 500 plummeted 9.5 percent, for a total drop of 26.7 percent from its all-time high, set just last month.

Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the meltdown in the U.S., the world’s biggest economy, batters confidence around the globe.