Around the World's Markets: New York

AS THE yen slid to an eight-year low, blue chips tumbled more than 250 points on deepening fears that Asia's turmoil will be prolonged and eat into corporate profits. Losses were pared in late session, and the Dow closed at 8,462.85, down 112 points, or 1.31 per cent.

There was less concern over the news that US productivity declined 0.2 per cent in the second quarter - the first drop in over three years - although this may revive inflation worries.