Asian stocks tumble after Wall Street slide

Display boards at the Australian Stock Exchange flicker with news of a falling market in Sydney, Friday, Aug. 5, 2011. The Australian benchmark S&P/ASX-200 index plunged 168.6 points, or 3.94 percent, at 4,107.9 shortly after opening. (AP Photo/Rick Rycroft)

August 4, 2011 7:26:32 PM PDT
Asian stock markets are tumbling amid fears the U.S. may be heading back into recession and Europe's debt crisis is worsening.

The sell-off in Asia on Friday follows the biggest one-day decline on Wall Street since the 2008 financial crisis.

Japan's Nikkei 225 stock average slid 3.4 percent and Hong Kong's Hang Seng dived 4.4 percent. Taiwan's benchmark fell nearly 5 percent and Australia's market shed 4.1 percent.