The Nikkei index in Japan slumped 9.6 percent, down to its lowest level since May 2003.
Hong Kong's Hang Seng Index dropped 4.3 percent, while Japan's Nikkei fell 3.7 percent.
The main Nikkei index was off 2.1 percent, which is a pretty sharp drop.
Recent posts include a look at the oil, housing and technology bubbles and the convergence of the Nikkei and the Dow.
The value of the yen is falling exactly as planned, and Japanese stocks on the Nikkei are doing very well.