Asian markets battered as Tokyo tanks again

A more than five percent plunge in Tokyo led another Asian rout Friday, bringing to an end one of the most painful weeks for investors as fears about the global economy -- and possible recession -- stalk trading floors.

The steep losses in Japan came as the yen pushed to more than 16-month highs against the dollar and dealers continued a flight to safe havens.

However, oil soared almost six percent following a report that producers' group OPEC could be willing to cooperate on output cuts to stem a crash in prices that has sent shockwaves through world markets .... http://news.yahoo.com