Even Hong Kong, whose economy has little in common with Thailand's or Indonesia's, saw its share index slide nearly 15% over three days.

ECONOMIST: Too late for a gentle landing

Click here for our Clunker Index slide show.

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As reflected by the precipitous slide in the Nikkei Index, Japanese stocks have been out of favor for more than two decades.

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The moves have led to a rally in the Nikkei stock index and a slide in the yen that has made corporate Japan more competitive overseas.

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Over the past year, it has gained 45.6%, even after Monday's slide, while the Palisades Global Water Index, of which is a member, was up 34.4% through last week.

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It was the nine percent drop in the Shanghai index on Tuesday that triggered the global slide in stock prices.

NPR: Taking Stock of China's Chaotic Market

They say the slide in the Euro Stoxx 50 came because the index is weighted more toward financial firms than other indexes are.

WSJ: Upside of the Euro Crisis: Bargains in Blue Chips

Taipei's stock index hit a 20-month low , the slide greased by two financial scandals.

CNN: T WAS SUPPOSED TO

The Morgan Stanley REIT Index hit a high in late 1997 and then began a slide that, apart from a short-lived rally last spring, has made one-third its value disappear.

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