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Asian Markets Dip After Wall Street Decline

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Asian markets fell Thursday after Wall Street posted its second big drop in a week as investors worried about the extent of fallout from the global credit crisis.

Japan's benchmark index sank 2 percent, while the Hang Seng in Hong Kong tumbled 3.2 percent. China's benchmark Shanghai Composite Index lost 4.9 percent in its biggest one-day decline in four months.

Shares also fell in Australia, India, South Korea and the Philippines.