SYDNEY, NSW, Australia - Sharemarkets across Asia fell, sharply on Tuesday, particularly in Japan where the benchmark Nikkei 225 plunged 910 points.
Shares at the opening in Europe too were being sold into the wind following significant falls in the U.S. overnight.
The biggest domino to fall was Tokyo's Nikkei 225 index which plummeted 909.71 points or 3.08 percent to close Tuesday at 28,608.59.
In Australia, the All Ordinaries lost 88.20 points or 1.19 percent to 7,331.60.
Going against the trend, China's Shanghai Composite advanced 13.86 points or 0.40 percent to 3,441.85. China's consumer price index (CPI), a main gauge of inflation, posted faster growth in April as domestic demand continued to pick up, official data showed Tuesday.
The CPI rose 0.9 percent year on year in April, faster than the 0.4 percent rise recorded in March, according to data from the National Bureau of Statistics (NBS), as reported by Xinhua.
On a monthly basis, the CPI fell 0.3 percent in April, compared with the 0.5 percent decline in March.
In Hong Kong, the Hang Seng declined 581.81 points or 2.03 percent to 28,013.81.
The U.S. dollar was notionally higher. The euro eased a fraction to 1.2136 but was still well bid. The British pound was strong at 1.4131. The Japanese yen was only a tad lower at 109.90. The Swiss franc traded at 0.9026.
The Canadian dollar eased a touch to 1.2110. The Australian dollar held on to recent gains to trade at 0.7829. The New Zealand dollar had plenty of friends, seeing out the Asian trading zone at 0.7260.
Overnight on Wall Street, the technology-driven Nasdaq Composite lost 350.38 points or 2.55 percent to finish at 13,401.86.
The Dow Jones shed 34.94 points or 0.10 percent to 34,742.82.
The Standard and Poor's 500 lost 44.18 points or 1.04 percent to 4,188.42.