Stories by Michele M. Yamada and Joanne Lee-Young

Land of the falling stocks

The Nasdaq may have plunged 6 percent on Monday to a more-than-two-year low, but the turmoil in Asia is worse. The Nikkei average shed another 2 percent Tuesday to finish at 11,819.70 - its lowest close since January 28, 1985.

Three-way alliance to bid for Europe's 3G market

Japan's NTT DoCoMo, the Netherlands' Royal KPN NV and Hong Kong-based Hutchison Whampoa agreed to join forces yesterday to compete for third-generation (3G) mobile phone service licences in four European countries, starting with the UK, then Germany, France and Belgium.