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The MSCI Asia Pacific Index fell 3.7 per cent by 15:40 local time in Tokyo, which represented the lowest level seen since July 2010.
Shares in Hong Kong and China also dipped today, with the Hang Seng Index declining by 4.1 per cent.
Alex Wong, director of asset allocation at Ample Finance Group, told Bloomberg: "It's a very tough environment right now ... [but] we are not seeing too much redemption. People are actually very calm, willing to sit on losses and wait for improvement."
The China Enterprises Index also tumbled yesterday, falling 4.83 per cent to the lowest level seen since May 2009.
In Japan, the Nikkei 225 also declined yesterday, falling two per cent following the announcement by the US Federal Reserve that there are "significant risks" to the US economy.
Posted by Chris Weaver
