Taipei - Taiwan stocks fell nearly 3 per cent Tuesday amid fears of a deepening global recession.

The benchmark TAIEX index fell 124.15 points, or 2.84 per cent, to close at 4,242.61.

Analysts said the fall of TAIEX was partly in response, along with most Asian stock markets, to Britain's widening a rescue plan for Royal Bank of Scotland Group Plc, which raised fears that more companies will need bailouts as the global recession deepens. (dpa)