STOCKS PLUNGE – Painful Correction Hits World Markets

Stock markets around the world are falling, driven by fears coming out of the U.S.

Major indexes in New York, Tokyo and London have suffered steep losses. And a key gauge of investors’ fear spiked to its highest level in more than two years.

Analysts are trying to figure out if it’s a short-term correction for markets that had recently hit record highs or a sign of deeper concerns.