Most Asian and Pacific markets were sharply lower on Thursday, a day after Wall Street's major indices lost more than 5 percent of their values, reported CNN.
The Nikkei in Tokyo was off 5.2 percent in afternoon trading, while Australia's All Ordinaries slipped 4 percent.
In Seoul, the KOSPI declined nearly 6 percent. The Taiwan Weighted index fell 5.5 percent.
Singapore's Strait's Times index fell 3.5 percent and the BSE SENSEX in Mumbai dropped 3.6 percent in early trading.
The selloff followed Wednesday's rally across Asia as markets returned to economic realities following historic elections in the United States that saw Barack Obama elected president, the first African-American who will hold the post.
On Wall Street Wednesday, the Dow Jones industrials fell 486 points, or 5 percent. Similar percentage losses were posted by the tech-heavy NASDAQ and broad-based Standard and Poor's 500.
U.S. futures, which offer an indication of how markets may open when trading begins in New York on Thursday, were lower.
Europe's major markets -- London, Paris and Frankfurt -- were off about 2 percent on Wednesday.