From Reuters. Is this the other shoe from Friday? Or a new set of clodhoppers to send U.S. markets down further?

"Asian stock markets tumbled on Monday with financial shares such as Macquarie Bank hit by global credit jitters, while fresh concerns about the health of the U.S. economy knocked the dollar lower.By the end of morning trade, Tokyo's Nikkei average had shed 0.9 percent, while other major markets across the region fell between 1 percent and 4 percent.

"Investors sold financial issues including Mitsubishi UFJ, Australia's Macquarie Bank and HSBC Holdings as well as exporters such as Canon, Sony, Hyundai Motor and Samsung Electronics.

"The MSCI index of Asian stocks outside Japan shed 2.2 percent by 0300 GMT after earlier plumbing a fresh one-month low. At the session trough, it was down 9.6 percent from the record high set on July 24, matching the percentage fall suffered in late February and early March.

"The index fell 1.0 percent last week, marking its second weekly decline.

"Among the region's top decliners, Singapore's Straits Times Index dropped 3.8 percent to 3-½ month lows while Hong Kong's Hang Seng Index slid 2.4 percent to one-month lows."