Asian stock markets sank Tuesday after Wall Street retreated and global financial firms announced another round of massive layoffs, adding to gloom about the world economy. Tokyo's Nikkei 225 stock average fell 194.17 points, or 2.3 percent to 8,328.41, a day after confirmation Japan, the world's second largest economy, had slipped into a recession. Hong Kong's Hang Seng Index was 2.9 percent lower at 13,131.23.

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