Asia emerging markets hit by Fed
22 August 2013 Last updated at 12:30 BST
Shares and currencies in emerging Asian economies were hit by fears the US may scale back its bond-buying programme.
Stocks in Indonesia, Thailand and the Philippines fell, with the Philippine Stock Exchange down by more than 6%.
India's rupee hit a new all-time low, while the Indonesia rupiah fell to its lowest level since 2009.
The programme has been used by the US Fed to boost liquidity in the market, a part of which has flowed into Asia, lifting assets price in recent years.
Michelle Fleury reports.