MarketS DailY - Oct 10

US Markets:

Dow 8,579.19 –7.33%–678.91
Nasdaq 1,645.12 –5.47%–95.21
S.&P. 500 909.92 –7.62%–75.02

Asia at 9 AM
Nikkei 8,183.37 –10.64%–974.12
Hang Seng 14,666.78–8.01%–1,276.46
Shanghai 1,975.00 –4.80%–99.58

SGXNifty 3286

Crude Oil $82.24–5.02%–$4.35
Gold $919.50+3.72%+$33.00

News Today:

* DOW plunges 670 points to a new 5 year low. DOW , NASDAQ, S&P 500 are down almost 40% from its highs.

* GM shares falls to levels it traded in 1950. S&P rating agency has downgraded the stock.

* Nikkei falls -11% in morning trade. Hangseng Down by over 1000 points.

* The G 20 nations financial chief's are expected to meet soon to discuss the current crisis.

* Oil slips to $82 / barrel

* US banks borrow record $420 billion per day from Fed to keep the system running.

* Rupee could fall to 50 against dollar in coming days.