US markets slip; Dow ends down 116 points and following to this Asian markets trading lower; Nikkei, Hang Seng down

US markets ended a choppy session sharply lower as investors paused to reassess the likely success of the government's latest plans to clean up bank balance sheets and revive the financial system. An early comeback attempt came and went after a report showed that US home prices rose for the first time in a year. Prices climbed 1.7% in January from December In other news, reports indicate the SEC is considering modifying its up tick rules.

The Dow slipped 115.89 points, or 1.5%, to 7,659.97. The S&P 500 index declined 16.57 points, or 2%, to 806.35, and the NASDAQ fell 39.25 points, or 2.5%, to 1,516.52.