Biggest plunge in history

By dave on January 22, 2008 5:46 PM | Permalink

The Hong Kong stock market has plunged more than 2,000 points, as investors across Asia dumped shares amid fears of a US recession. The Hang Seng index closed down 2,061 - or 8.7 percent - at 21,757 - the biggest one-day points fall in its history. Mainland stocks took a particularly heavy hit as the Shanghai exchange fell another 7.2 percent. Banks extended their losses on earnings uncertainty in the wake of the US subprime crisis, with Bank of China and HSBC both down more than 8 percent. Japan's Nikkei index nose-dived 5.7 percent.

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