HONG KONG -- Asian share markets came under renewed attack Tuesday after further sharp falls on Wall Street and the release of more evidence the U.S. economic recovery is faltering.

The key Nikkei-225 index on the Tokyo Stock Exchange came within a whisker of plumbing 18-year closing lows. The mood was also grim elsewhere in Asia after another slide in U.S. stocks and data showing slowing growth in U.S. service industries.

"Many begin to wonder when this will all end," a dealer with Credit Suisse First Boston in Sydney said. "Even the staunchest bulls in our dealing room have stopped calling the bottom, rather they now fear waking each morning."

The Nikkei-225 average lost 203.91 points or 2.1 percent to 9,501.02, sinking to within 80 points of a level not seen since late 1983.

"Given the deepening anxiety over the trend of the U.S. economy, which severely affects the business performance of Japanese hi-techs, as well as automakers, investors do not dare invest their money in these stocks, even if the underlying earnings fundamentals are improving," said Kunihiro Mita, senior managing director at Mita Securities.

In Hong Kong, the key Hang Seng index lost 1.8 percent or 179.44 points to close the morning at 9,682.89.

The U.S. economy is likely to avoid a "double-dip recession" after last year's three quarters of contraction, most economists said, but sliding U.S. stocks are the main threat, AFP reported.

"The chances of a double dip are real if the stock market continues to go down 200 to 300 points a day for a few more weeks," Naroff Economic Advisers President and Chief economist Joel Naroff said. "We have still got about another 1,000 points on the Dow and a couple of hundred points on the NASDAQ as a cushion," he said. "But we are running out of cushion.