Asian markets fall on U.S. bailout failure

(CNN) -- Asian and Pacific stock markets slipped lower Tuesday after the U.S. House of Representatives failed to adopt a Wall Street bailout measure, triggering the largest point drop in U.S. market history.

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

Japan's Nikkei Index was down 4.12 percent while the Australian Securities Exchange fell 4.32 percent. The Hong Kong exchange dropped 1.4 percent.

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

The American stock market was down almost 778 points at closing Monday -- just under 7 percent.