THE ASSOCIATED PRESS I AP 360

Asian stock markets tumbled Friday amid fears the U.S. may be heading back into recession and Europe's debt crisis is worsening. The sell-off follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.

Investors, already fidgety after protracted political bargaining to raise the U.S. debt limit and worries that Italy and Spain are getting deeply embroiled in Europe's debt crisis, searched for assets considered safer such as gold.

In Europe, most markets shed more than 3 percent Thursday. France's CAC-40 tumbled 3.9 percent, Germany's DAX lost 3.4 percent and Britain's FTSE 100 also slid 3.4 percent.


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