DAVID HAFFENREFFER, CNN ANCHOR: Let's go to Todd Benjamin. He's in our London bureau now with the latest on European trading. Todd, a big sell-off there, I understand, this morning.</s>TODD BENJAMIN, CNN CORRESPONDENT: A big sell-off on the back of the Nasdaq's near-4 percent slide. Right now, you've got the FTSE off nearly 2 percent. You've got the DAX in Frankfurt and the CAC in Paris off nearly 3 percent. And Zurich is off 1 percent, but again Zurich is not heavy technology, and it's really tech and telecoms and media that are just getting slammed today. Nokia, for instance, down nearly 10 percent. Cable & Wireless down about 9 percent. SAP, the big software maker, which also trades in New York along with the others I've mentioned, down nearly 8 percent. ST MicroElectronics, the chip maker off some 7 percent. So a very bloody day indeed. In terms of the currency markets, the dollar is nearly a half yen lower against the Japanese currency. The euro's a half cent higher against the greenback, and the pound's about a third cent weaker against the dollar. Oil I want to mention very quickly. It's up about 21 cents at $24.61 a barrel. Back to you, Dave.</s>HAFFENREFFER: OK, thank you, Todd. And that sell-off here in the U.S. yesterday didn't do much for the Asian markets overnight, either. We did see some selling in Asia. The Nikkei index in Tokyo fell 1 1/3 percent, ending its four-day winning streak as investors cashed into across the board. The Hang Seng index tumbled 3 1/2 percent, suffering its fifth- biggest point drop in the past two years. Shares in Taiwan gained 1 1/3 percent but were off earlier highs which briefly crossed the 10000 point level. Search CNN.com CNNSI.com CNNmoney.com The Web
Techs and Telecoms Take a Beating Across the Globe