Asian Markets Hammered; Nikkei Loses 9.4%

SINGAPORE -- A crisis of confidence weighed on Asian shares Wednesday with several indexes slumping to multiyear lows as investors worry about the impact on corporate earnings from the financial-sector upheaval and a slowing global economy.

"Everyone is looking for a silver bullet, but we just have to ride it out," said Adrian Vance, a broker at Hamilton Hindin Greene in New Zealand.

Japan's Nikkei 225 Stock Average plummeted 9.4% to close at a five-year low on deepening fears over the global financial crisis. The benchmark index on Wednesday nose-dived 952.58 points to 9203.32, the lowest finish since June 2003. ...