STEVE INSKEEP, host:
NPR's business news starts with Asian markets nervous about Wall Street.
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INSKEEP: You would think that investors in Asia would be accustomed by now to bad news from Wall Street, but that did not stop the panic selling today. Investors from India to Australia woke up to news of a fire sale takeover of a Wall Street investment bank.
Bear Stearns was bought out. It was supposed to be a rescue, but it looked like more grim tidings, and investors headed for the exits. Stock markets across the region fell sharply, with Hong Kong and India down nearly 5 percent. Tokyo stocks were down 4 percent.