DAVID HAFFENREFFER, CNN ANCHOR: Well, earnings worries took their toll on the Asian markets overnight.</s>DEBORAH MARCHINI, CNN ANCHOR: Michelle Han wraps up the region's day in trading from our studios in Hong Kong. Hello, Michelle.</s>MICHELLE HAN, CNN ANCHOR: David, Deborah, good morning. Yes, blame it on Big Blue. IBM's disappointing third-quarter earnings and the Nasdaq's dismal performance wrecked havoc on Asian markets. Well, let's assess the damage. In Tokyo, the Nikkei tumbled three percent to a 19-month low, below the 15000 point support level. High-tech stocks took a beating. NEC, Toshiba and Sony all lost four percent. Hong Kong shares followed suit. Heavy losses in telecom shares pushed the Hang Seng index down nearly three percent. Dominant carrier Pacific Century CyberWorks touched an 11-month low as investors fretted about its earnings growth. But Taiwan put in the most dramatic session Wednesday. The key TAIEX plunged 4 3/4 percent to a 4-1/2 year low, despite help from state funds. Investor confidence was badly bruised by IBM's earnings, the Taiwan dollar's drop against the greenback, and heavy margin call selling. The new Taiwan dollar hit a 16-moth low of 32.38 to the U.S. dollar. Analysts said weakening sentiment will cause the index to test the 5000 point support level. And that wraps up the trading day here in Asia. Back to you both in New York.</s>MARCHINI: All right, Michelle, thank you.
Earnings Worries Take Their Toll on Asian Markets