Currently: Nikkei tumbles more than 10% in regional sell-off


HONG KONG (MarketWatch) -- Japanese shares suffered a sell-off Thursday, sending the Nikkei 225 down by more than 10% at one point during the session, as investors rushed to dump equities amid fears about a U.S. recession and after stocks dived on Wall Street overnight.

The Nikkei 225 Average dropped as much as 10.3% in mid-morning Tokyo trading, before recovering a little, as shares across the board were slammed. The benchmark ended the morning session 9.6% lower at 8,635.56, while the broader Topix index shed 7.6% to 883.21.

Australia's S&P/ASX 200 index lost 6.6% to 4,016, as shares of resources giant Rio Tinto tumbled more than 13% in Sydney on concerns global demand for commodities is weakening.

In Hong Kong, the Hang Seng Index dropped 7% to 14,878.57 in the early minutes, while the Hang Seng China Enterprises Index lost 9.1% to 7,173.86. On mainland China, the Shanghai Composite declined 3.6% to 1,923.93.

Elsewhere, New Zealand's NZX 50 index gave up 4.6% to 2,770.84, South Korea's Kospi slumped 7.3% to 1,241.93, Singapore's Straits Times index lost 6.3% to 1,929.46 and Taiwan's Taiex shed 3.3% to 5,072.73.



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3 Earthquakes Felt Throughout the Virgin Islands this Weekend

Magnitude-3.4 quake hits near Palm Springs

Magnitude 3.0 - TEXAS PANHANDLE REGION
2008 October 12 12:08:15 UTC
Magnitude 3.7 - TEXAS PANHANDLE REGION
2008 October 14 03:07:27 UTC
Earthquake Reported Near Canadian

Magnitude 5.2 - HINDU KUSH REGION, AFGHANISTAN
2008 October 13 08:07:43 UTC
Magnitude 5.1 - KYRGYZSTAN
2008 October 13 09:23:35 UTC
Magnitude 5.1 - SOUTHERN XINJIANG, CHINA
2008 October 13 09:25:40 UTC
Magnitude 5.3 - KYRGYZSTAN
2008 October 13 16:05:25 UTC
Magnitude 5.3 - TAJIKISTAN
2008 October 13 17:16:10 UTC
Mild intensity earthquake hit China

Magnitude 5.1 - TONGA
2008 October 13 12:07:48 UTC

Magnitude 5.3 - MINDANAO, PHILIPPINES
2008 October 14 01:04:24 UTC

Magnitude 4.0 - OFF THE COAST OF OREGON
2008 October 14 15:10:39 UTC

Magnitude 5.0 - FIJI REGION
2008 October 14 16:52:52 UTC

Magnitude 5.0 - NORTH INDIAN OCEAN
2008 October 14 19:51:35 UTC

Magnitude 1.0 - NEW HAMPSHIRE
2008 October 15 07:39:12 UTC

Magnitude 5.3 - VANUATU
2008 October 15 14:28:18 UTC



Scientists are searching for the source of earthquakes

For years the biggest quake threat in the Midwest appeared indisputable: the New Madrid Seismic Zone, a region stretching through western Kentucky, Missouri, Tennessee, and Arkansas, that set off a famous and devastating series of quakes in 1811-1812. Those quakes killed several people, made the Mississippi run backwards, toppled buildings near its center, and knocked down chimneys 100 miles away.

But evidence of ancient earthquake activity suggests to some that the bigger threat in the Midwest may be as close as southern Illinois and Indiana. It's called the Wabash Valley Seismic Zone, and on April 19, it sent a 5.2 magnitude reminder that woke people up from Ohio to Missouri. More than 150 aftershocks followed, including a 4.5 magnitude rumble the next day.

While a quake of that size does little harm unless you're right on top of it, researchers are learning that the Wabash Valley is capable of shakes 1,000 times more energetic: The kind New Madrid is famous for.



VIDEO: Explosive weekend eruptions rock Kilauea volcano

Two explosive eruptions rocked the Halemaumau crater vent at the summit of Kilauea volcano this weekend, expelling mushroom clouds of glowing hot gas, ash and rock particles. The explosions were the most dramatic of seven seismic events occurring between Saturday afternoon and Sunday morning at the volcano on Hawaii’s Big Island.

United States Geological Survey cameras aimed at the Halemaumau vent captured the explosions, which occurred Saturday at 3:54 p.m., and Sunday at 7:28 a.m. Both explosions sent hot, incandescent particles scientists described as “fist-size” above the rim of Halemaumau



Expedition set for 'ghost peaks'

It is perhaps the last great Antarctic expedition - to find an explanation for why there is a great mountain range buried under the White Continent.

The Gamburtsevs match the Alps in scale but no-one has ever seen them because they are covered by up to 4km of ice.

Geologists struggle to understand how such a massif could have formed and persisted in the middle of Antarctica.

Now, an international team is setting out on a deep-field survey to try to get some answers.



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Quakes have been oddly quiet the last couple of days. Wouldn't be at all surprised to see some 6+s before the weekend.