BANGKOK ? Asian stock markets fell Tuesday as new concerns emerged about the viability of a much-heralded plan to contain Europe's debt crisis.
Japan's Nikkei 225 index dropped 0.8 percent to 8,920.86. Hong Kong's Hang Seng lost 0.9 percent to 19,681.66 and Australia's S&P/ASX 200 shed 1.3 percent to 4,224.40.
Bucking the trend was South Korea's Kospi, which gained 0.5 percent to 1,919.05.
Wall Street tumbled Monday, with confidence shaken by the collapse of the brokerage house MF Global. The securities firm filed for bankruptcy protection after it was downgraded by ratings agencies for holding too much European debt.
The company's collapse shook investors already nervous that the United States ? with an economy growing at the slowest pace since the end of the Great Recession ? is in danger of falling back into recession.
The Dow Jones industrial average spiraled down 2.3 percent to close at 11,955.01. The S&P 500 fell 2.5 percent to 1,253.30, and the Nasdaq composite fell 1.9 percent to 2,684.41
European leaders reached an agreement Thursday aimed at shoring up the region's banks and preventing a severe debt crunch in Greece from bringing down Europe's financial system.
But the European debt crisis is still far from fixed. One troubling sign is that borrowing costs for Italy and Spain have increased, a signal that traders remain worried about those countries' ability to pay their debts.
Complicating the picture further was the announcement by Greek Prime Minister George Papandreou on Monday that his debt-strapped country will hold a referendum on whether to accept the European debt deal.
In energy trading, benchmark crude for December delivery was down 36 cents at $92.83 a barrel in electronic trading on the New York Mercantile Exchange. The contract slipped 13 cents to settle at $93.19 in New York on Monday.
The euro fell to $1.3842 from $1.3924 late Monday in New York. The dollar rose to 78.15 yen from 78.05 yen.
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