Asia, Pacific markets tumble in opening

(CNN) - Japan's Nikkei Exchange dropped below the 10,000 mark in early trading Tuesday as Asian and Pacific markets responded to Wall Street's drop below the same mark on Monday.

The Nikkei dropped more than 5 percent, the Korea Exchange fell more than 2 percent and the Australian Securities Exchange dropped nearly 3 percent.

Global markets fell on Monday, too, as the credit crisis tightened its grip on banks and other financial institutions.