Bears slaughtering the market while the world watches the Olympics

The Asian market was very bearish today with major indices in Asia extended the decline today. Below are the market indices performances:

Japan's Nikkei Index fell 300 points (2.3%).
Australia's All Ordinaries fell 113 points (2.2%)
Hong Kong Hang Seng Index fell 446 points (2.13% )
South Korea KOSPI fell 26.3 points (1.7%)
Singapore's STI fell 48 points (1.7%)
Kuala Lumpur Composite Index fell 15 points (1.4%)
However, the Shanghai Stock Exchange Composite Index rebounded today with 24.6 points or 1%

The weak performances in Asia has affected the European markets;
France's CAC40 Index fell 116 points (2.6%)
London's FTSE fell 130 points (2.4%)

In the US (as at 11.20am), the Dow Jones Industrial Average is 130 points lower (1.1%), while the S&P500 index is down 11.7 points (0.9%).

We expect further declines... Read US market here, Malaysian market index here and Singapore index here