10-22-07

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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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A suicide bomber has rammed his car into a British military convoy in southern Afghanistan, wounding three Afghan civilians who were nearby. No casualties were reported among the British troops. The attack happened in Gereshk in the southern province of Helmand. 

Two days earlier, the U.S.-led coalition and Afghan troops reported killing nearly 30 Taliban militants in Helmand.