And Now Asian Markets Are Diving

Update:

In early trading, Hong Kong's Hang Seng is down 2.4%. The Shanghai Composite is down 1.4%.

Earlier:

In the wake of the US market thrashing, Asian markets are waking up to a steep selloff.

However, Korea is getting crushed with the Kospi down 3.4%.

Australia's S&P/ASX 200 is down 2.1%.

Japanese markets are closed as the country celebrates the Autumnal Equinox.

Quick Trivia On The US:

As graduates of colleges and universities are still hunting for jobs, those who are graduating will add to the number of job seekers. In an environment where setting up small businesses are proving riskier in the US due to lower consumer confidence, these students are finding it hard to pay off their student loans on time.

If jobs are hard to come by, banks will be pressured to pose penalties on late payments. These fresh graduates will then begin their career, if any, deep in debt.

Therefore, it does not mean that if unemployment were to decrease, will there be an increase in CPI numbers. These unemployment numbers also reflect the amount of personal debt that they have accumulated over the years just to get by.