Over night markets getting crushed..11pm Update

Monday, January 21, 2008

Short Es futures 1267

SINGAPORE (Reuters) - Stocks tumbled across Asia on Tuesday, and U.S. stock index futures sank, as panic gripped markets that a U.S. recession could derail global economic growth, sending investors fleeing to safe-haven government bonds.


Share markets from Tokyo and Hong Kong to Seoul and Sydney slumped around 5 percent, while industrial metals, such as zinc and copper, plunged and oil fell well below recent record highs.

"It's like a funeral in here," said Ken Masuda, senior equities dealer at Shinko Securities in Tokyo. "No one knows what's going to happen tonight in New York. It's like we've gone blind, you don't know what's coming.

"Until we see New York, all we can do is sell," he said.