Asian shares have tumbled amid growing fears of a global recession. Japan's Nikkei index fell by about 10% today while  shares in Hong Kong are down 7.6%. Australian, South Korea and Indian share indexes all fell by at least 4%.

Stocks had risen earlier in the week after governments relieved nerves by making cash injections into banks, but it apperars that these gains have mostly been lost.

Now investors fear that efforts to stem the banking crisis will not be enough to prevent a recession.

New York's Dow Jones index saw its worst one-day percentage fall since October 1987 on Wednesday, closing almost 8% down.

There were also big falls in London and other European markets on Wednesday.

The leaders of the G8 major industrialised nations yesterday agreed to hold a summit with other states to discuss global financial reform.

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