Market rout turns back to Asia after U.S. plunge

Asia's crash may not have hit bottom after Wall Street's volatility index spikes, analysts say

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U.S. markets finished down sharply on Aug. 5 amid fears of an American economic slowdown. © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- U.S. stock indexes ended the trading day down sharply Monday, with the global market rout expected to continue in Asia when trading in Japan begins Tuesday morning, according to market analysts.

"There is certainly potential that if you weren't stopped out of your risk last night in some of these trades in Asia, that there is more to go," said Charlie McElligott, cross-asset strategy managing director at Nomura.

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