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Asian stock markets fell sharply Monday after disappointing earnings reports in the United States raised fears of a slowdown in the world's biggest economy.
Major indices lost more than two percent in Tokyo and Taipei, while Seoul's market fell more than three-percent. Hong Kong's Hang Seng Index was down about three-and-a-half percent in late trading.
European stock markets also opened lower Monday. Major indices in London, Paris and Frankfurt were losing around one-and-a-half percent in early trade.
Dealers say the dollar's weakness against the yen and other currencies also worried investors in Asia. Stronger Asian currencies make Asian exports relatively more expensive in overseas markets.
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