STEVE INSKEEP, host: NPR's business news starts with a big sell-off in overseas stocks.</s>STEVE INSKEEP, host: It may sound like we're telling you yesterday's headlines, because the same thing is happening today. For the second day in a row, fears of an American recession sent investors fleeing from stock markets in Asia. Japan's main stock index fell more than 5.5 percent. That's the worst drop since 9/11. Markets in Hong Kong, Australia and South Korea also dropped sharply. In Bombay, India, exchange officials halted trading after the main index there plummeted more than 11 percent. Fears about the global economy also hit European stock markets, which are still reeling from yesterday's sell-offs. France's main index fell nearly 7 percent. Britain's FTSE 100 index dropped 5 and a half percent.
For the second day in a row, fears of a U.S. recession are driving stock prices lower in Asia. Japan's stock index fell more steeply than at any time since the Sept. 11 attacks. European markets, hit hard Monday, were showing mixed results Tuesday.