MarketS DailY - Nov 11

US Markets

Dow 8,871 -73.27
Nasdaq 1,617 -30.66
S&P 500 919 -11.78

Asia at 9 30 AM

NIKKEI 8,960.77 -120.66
HANG SENG 14,686.81 -57.82

Europe

London 4,404 38.96
Paris 3,506 36.63
Frankfurt 5,026 87.07


SGX Nifty 3124 -51

Oil $60.52 -1.89
Gold $746.50 12.30


News Today


* DOW closed in red as concerns turn back to the slowing economy.

* GM shares hit a 6-decade low, Auto maker is suffering lack of funds and the stock was downgraded by major brokerages.

* Continued contraction forecast in 2009 for Japanese, U.S , British and eurozone economies. Blue Chip Economic Indicators predicts current recession will be deeper, longer than 2001 or 1990-91.

* AIG gets $150 bn govt bailout; posts huge loss of $24 billion.

* Australian business confidence at record low, the economy is facing tough times.

* Indian realty developers are taking the brunt of the slow down , DLF mega mall on hold as rentals slip.