Hello traders!

In the US tonight, stocks finished sharply lower with banks leading the falls as
worries about credit losses grew.

The Dow Jones Industrial Average dropped 289.6 points to 7,841.73, the S&P500
slid 37.21 points to 832.39 and the Nasdaq Composite lost 64.86 points at 1,608.21.

See you in the morning with the latest.......

G.

Good morning traders!

In Asia today, the Nikkei was down 219.71 points at 8,705.04 with the Hang Seng
ending the morning off 585.44 points (3.7%) at 15,165.47.

Crude oil traded at $45.99 a barrel on Nymex.

Happy trading!

G.

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

Global stock markets moved firmly into reverse on Monday after six weeks of gains on renewed fears for the banking sector after Bank of America (BoA) disclosed bigger-than-expected credit losses.
Global markets slide on banking fears

Nouriel Roubini, the so-called "arch bear" economist who predicted the current financial crisis in 2006, added further gloom yesterday after he wrote off recent rises in global stock markets as no more than a dead cat bounce.
Stock market bulls have got it wrong, warns Nouriel Roubini

The pound slid after it emerged that Alistair Darling will this week unveil Budget plans which will consign Britain to a deficit dwarfing anything faced in peacetime.
Markets braced for historic 200bn deficit

The Bank of Englands policy of quantitative easing is continuing to push interest rates down and ease credit conditions. Demand was again healthy in yesterdays reverse auction of gilts, where the Bank stands prepared to buy government securities from the market in return for cash, thus generating additional spending power in the economy and pushing inflation, in due course, back up towards its 2 per cent target.
'Quantitative easing' showing benefits

In a move to help the construction industry and revive the market, the Chancellor will say in his Budget that the Treasury is ready to go into partnership with private companies to ensure that developments proceed
Alistair Darling to announce 1bn boost for stalled housing market

The frank admission by Glenn Stevens, the governor, about the state of the economy comes a day after Prime Minister Kevin Rudd said it was "inevitable" the country would be dragged into recession by the global financial crisis.
RBA governor: 'Australia now in recession'

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

BSY Morgan Stanley: downgraded to equalweight from overweight, tp reiterated 460
CRDA JP Morgan: overweight, tp raised to 700 from 650
DCG Citigroup: upgraded to buy from hold, tp raised to 340 from 190
DEB UBS: reiterated neutral, tp raised to 60 from 38
HFD HSBC: upgraded to neutral from underweight
HOIL Panmure: initiated buy, tp 500
NFDS Citigroup: upgraded to buy from hold, tp raised to 75 from 54
PFD Citigroup: downgraded to hold from buy, tp reiterated 39
PRU Morgan Stanley: downgraded to underweight, tp cut to 479 to 495
RIO Deutsche Bank: reiterated buy, tp reiterated A$68.80

End-of-day Market Overview