Markets selloff continues

Asian/Australian are following the lead of US markets, down. Most declined 1½-3½%. Australia leads decliners being impacted by NAB, a large Australian bank, which just wrote-off $830MM (Australian) related to losses in the US sub prime mortgages, off 11%. Their provisions are based on a worst case scenario. Samsung, huge electronics company in Korea which sells globally including to the US, is down 4.6% as earnings came in 10% under forecasts & they gave cautious guidance for the balance of the year. Their chip division was weak & business looks bleak for rest of the year. Their LCD division did well but they are forecasting slow business for the rest of the year. Tomorrow US markets may be starting with a downward bias.