Asian markets fall on U.S. bailout failure

(CNN) -- Asian and Pacific stock markets sank in early trade on Tuesday after the U.S. House of Representatives failed to adopt a financial bailout plan, which triggered the largest point drop in U.S. market history.

Many of the markets expanded their losses toward the end of the trading day.

The Hong Kong stock exchange dropped 2.42 percent, while the Australian Securities Exchange fell 4.58 percent.

The Korea Exchange in Seoul, South Korea, was down 0.72 percent, after being off more than three percent earlier.

Japan's Nikkei Index was down 3.6 percent.

The Bank of Japan on Tuesday morning pumped another 2 trillion yen ($19.23 billion) into money markets, amid an effort among the world's central banks to calm worries about a global financial crisis, The Associated Press reported.

The Bank of Japan in recent weeks has been injecting trillions of yen by the day to add liquidity into the system. The latest brings the bank's infusion to a total of 20 trillion yen ($192.3 billion), AP reported.