MarketS DailY - Mar 06

US Markets
Dow 6594-281.40 (-4.09%)
Nasdaq 1300-54.15 (-4.00%)
S&P 683-30.32 (-4.25%)

Europe

FTSE 100 3530-116.01 (-3.18%)
CAC 40 2570-106.05 (-3.96%)
DAX 30 3695-195.45 (-5.02%)

Asia at 9 30 AM

Nikkei 225 7214-219.29 (-2.95%)
Hang Seng 12074-137.50 (-1.13%)

SGX Nifty
2525 - 31 pts

Commodities
Light Crude (NYM)
43.61 (-1.77)
Gold (CMX)
927.80 (+21.10)

News Today

*
U.S. stocks have plunged to fresh 12-year lows as investors digested more grim news.

* GM said its survival is in doubt, bank shares took a beating, and Citigroup fell below $1 mark for the first time in history. All-time high: $57.

*
Keith Sherin GE CFO says the speculation on risk in GE Capital is "overdone" and vows to "dive deep" into numbers with analysts on March 16.

*
The European Central Bank and the Bank of England both cut their key interest rates to historic lows on Thursday in a bid to revive their ailing economies. ECB president Jean-Claude Trichet said the bank had downgraded its predictions for growth in the 16-nation eurozone.

*
GM More Open to Bankruptcy : Top General Motors executives are more open to a speedy bankruptcy reorganization financed by the government. (Annual report).