LONDON (Thomson Financial) - U.S. SUMMARY: Shares, oil slide Index Change Percent change *DJIA 10917.51 -504.48 -4.42 *Nasdaq 2179.91 -81.36 -3.60 *S&P 500 1192.70 -59.00 -4.71 Nymex crude $95.71 -$5.47 10 yr US treasury 3.41 percent *Monday's close
STOCKS: U.S. shares fell Monday with the Dow Jones industrials losing 500 points in their worst slide since the September 2001 terrorist attacks. Investors recoiled after a shakeup of the financial industry that took out two storied names: Lehman Brothers Holdings Inc. and Merrill Lynch & Co.
The pullback, which erased about $700 billion in shareholder wealth, occurred across much of the globe as investors absorbed Lehman's bankruptcy filing and what was essentially a forced sale of Merrill Lynch to Bank of America for $50 billion in stock.
FOREX: The dollar ended higher against the euro and British pound Monday following a day of wild swings brought about by a weekend of upheaval on Wall Street.
The 15-nation euro fell to $1.4196 late Monday in New York from $1.4215 late Friday.
The British pound charted a similar path, climbing as high as $1.8127 and falling as low as $1.7764 before settling at $1.7902 in late New York trading, slightly down from the $1.7937 it was worth late Friday.
The dollar sank to 105.76 Japanese yen from 107.76 yen, and slid to 1.1191 Swiss francs from 1.1319 francs late Friday.
BONDS: Treasurys surged Monday as investors rushed to the safety of government debt following the bankruptcy of Lehman Brothers and worries about the well-being of insurer American International Group Inc.
OIL: Oil prices closed below $100 a barrel for the first time in six months Monday, tumbling in another dramatic sell-off as the demise of Lehman Brothers and the sale of Merrill Lynch deepened worries about the U.S. economy.
METALS: Gold prices managed a lackluster rally Monday as Lehman Brothers' bankruptcy and the sale of Merrill Lynch battered stocks and boosted the allure of safe-haven assets. Silver also rose.
Gold for December delivery rose $22.50 to settle at $787 an ounce on the New York Mercantile Exchange, after earlier rising as high as $791.40.
ASIA SUMMARY: Shares weak; yen rallies vs dollar Index Change Percent change Nikkei 225 11587.11 -627.65 -5.14 (0430 GMT) S&P/ASX 200 4704.00 -113.20 -2.35 (0430 GMT) Hang Seng 18261.69 -1091.21 -5.64 (0430 GMT) Seoul Composite 1388.89 -89.03 -6.02 (0430 GMT) BSE Sensex 13666.28 -334.53 -2.39 (0430 GMT) usd-yen 104.38 (Intra-day trade)
STOCKS: Asian share markets tumbled on Tuesday, with Japanese, Hong Kong and South Korean stocks down 5-6 percent, as upheaval on Wall Street fuelled investor uncertainty about a spillover into the region.
BONDS: Japanese government bond futures soared by their daily limit of 3 full points on Tuesday and 10-year yields hit a five-month low on safe-haven buying in the wake of the collapse of Lehman Brothers.
FOREX: The yen rallied versus the dollar on widespread risk aversion in the wake of Wall Street's turmoil.
OIL: Oil tumbled over 4 percent to a seven-month low on Tuesday, in free fall for a second day as Lehman Brothers' collapse made investors ditch oil for safe-haven assets, and on fears the credit crisis will hurt the real economy.
U.S. light crude for October delivery, which fell as much as $4.11 at one point, was down $3.92 at $91.79 a barrel by 0245 GMT, tumbling in concert with everything from Asian stock markets to grains.
METALS: Gold rallied more than 2 percent on Monday, as investors rushed to safer assets after the bankruptcy of Lehman Brothers fuelled worries about the U.S. financial system and sparked talk of possible rate cuts. EUROPE SUMMARY: Shares, oil dip Index Change Percent change *FTSE 5204.20 -212.50 -3.92 *DAX 6064.16 -170.73 -2.74 *CAC 4168.97 -163.69 -3.78 *Monday's close
STOCKS: Britain's benchmark share index ended almost 4 percent lower on Monday as banks plunged after U.S. investment bank Lehman Brothers filed for bankruptcy protection.
FOREX: Sterling fell against the dollar on Monday, wiping out early gains, as the U.S. currency gained versus higher-yielders on a wave of risk aversion after Lehman Brothers filed for bankruptcy protection.
At 1440 GMT, the pound was trading down almost 0.5 percent at $1.7864, though off an earlier low of $1.7768 reached just before the U.S. stock market opened.
In early trade, the pound had hit a two-week high of $1.8128. Against the euro, the pound was steady at 79.38 pence.
BONDS: Euro zone government bond yields tumbled and interest rate futures surged on Monday after U.S. bank Lehman Brothers succumbed to the year-long credit crisis, hitting stocks and boosting bids for less risky government debt.
OIL: Oil tumbled below $100 a barrel to a six-month low on early signs that Hurricane Ike may have spared key Gulf Coast infrastructure, although traders were cautious as they awaited status reports on more Texas refineries.
METALS: Gold rallied more than 2 percent on Monday, as investors rushed to safer assets after the bankruptcy of Lehman Brothers fuelled worries about the U.S. financial system and sparked talk of possible rate cuts.
Spot gold was at $778.50/779.70 at 0640 GMT versus $765.75/767.75 an ounce late in New York on Friday TFN.newsdesk@thomson.com ndi/jro COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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