Selloff is accelerating in Asian markets on top of yesterday's loss. I do not believe this is just about the S&P downgrade any more. This sell-off has taken a complete life of its own.
Hang Seng (-7.44%) (-14% since Aug. 1)
Nikkei (-4.79%)
All Ordinaries (-5.10%)
Seoul Composite (-7.40%)
Taiwan Weighted (-5.19%)
These are on top of huge losses yesterday.