Update

The Asian markets have been open for a little while and are down significantly. The Hang Seng is down 3.6%, the Nikkei is down 2.6%, Korean Composite down 6.2%, Taiwan down 3.5%. All of this is likely in sympathy to our markets decline. Recall that recently that Japanese mega banks have disclosed that they have exposure to our sub prime market. So our credit crisis is becoming theirs as well.