A week after share prices around the world first began to fall, markets in Asia are still on the way down.
The South Korean index dropped more than 6.5% and trading was briefly suspended, while Japan's Nikkei lost more than 2.5% in the morning session.
In Hong Kong, the Hang Seng lost 2.5% in early trading, losing 534.49 points to reach 20,841.23.
The markets were nervous, after New York closed below 13,000 on Wednesday for the first time since 24 April.
The falls are being caused by continuing concerns about the state of credit markets worldwide.
In Sydney, Australia's benchmark S&P/ASX 200 lost more than 5% in the morning session, down 291.5 points at 5,496.5.
Elsewehere in Asia, Singapore lost almost 3.5% on Thursday morning, falling 113.18 points to reach 3,160.07.
"The downtrend is still there," said DBS Vickers Securities retail market strategist Yeo Kee Yan told the AFP news agency.
And when markets opened in Mumbai, India's Sensex index lost 4.34% of its value within minutes.
Meanwhile, thhe Bank of Japan announced it would inject 400bn yen ($3.4bn) into its banking system in an effort to restore confidence and avoid a credit squeeze.....
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