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clipped from www.marketwatch.com

Asian markets crumble, Nikkei 225 dives 9.4%

"It's not just the hedge-funds, everybody is selling ... And there are no buyers," said Dale Tsang, managing director at Imperial Dragon Asset Management Co. in Hong Kong. "There is a state of panic, for cash. Everybody needs cash."
"No, I haven't seen anything like this, and I don't think anybody has seen anything like this before, except those who are over 75 years old and have seen the Great Depression," Tsang added.
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