Japan's shares fell sharply on Monday, with the broader Topix index hitting a 28-year low, as investors rushed to sell riskier assets on disappointing U.S. jobs data, deepening debt woes for the euro zone and slowing Chinese growth.
The more tech-heavy Nikkei index also slid and has now dropped 19 percent from a one-year high marked on March 27, flirting with a fall into bear market territory, often defined as a slide of 20 percent within two months.
The broader Topix index lost as much as 2.4 percent to 692.18, a level not seen since late 1983. Last week, it fell for a ninth straight week, marking its longest such run since 1975.
"This shows the situation really is very serious," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley.
Kuwait inflation plunges to nine-year low
Kuwait's annual inflation rate fell to a modest 2.7 per cent in October - its lowest in nine years, despite robust consumer spending and some improvement in business sentiment, said a report.