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Asia Markets: Asian markets skid after Wall Street sinks into correction territory

The latest plunge in global stocks hit Asia Pacific on Friday after late heavy selling in the U.S. left the Dow Jones Industrial Average and S&P 500 in correction territory for the first time in two years.

Chinese big caps slumped again after underperforming Thursday. The Shanghai Composite SHCOMP, -4.11% dropped 3.5% to hit eight-month lows, just two weeks after hitting its latest two-year high.

Hong Kong’s Hang Seng HSI, -3.33% gave up the rest of its gains for 2018, after coming into Friday’s trading as one of few in the region still not having turned lower for the year.

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