Global financial markets continue their plunge in reaction to an unprecedented downgrade of the U.S. government's credit rating and lingering concerns about European debt problems and global economic growth. In early Asia trading today, Hong Kong's Hang Seng index is down nearly 6 percent, while Japan's Nikkei index is nearly 4 percent lower. Seoul's KOSPI index is down nearly 7 percent. Stocks in Shanghai are down about 1 percent. On Wall Street yesterday, the index that measures broad U.S. stock market activity, the S&P 500, was down almost 7 percent. It was the biggest drop since December 2008. Major indexes across Europe were down by 3 to 5 percent. Gold is also at record highs, but the prices of most other commodities, including oil, fell as investors appeared to be bracing for an economic slowdown.