Hello traders!

In the US tonight, after falling nearly 200 points at the open, the Dow Jones
Industrial Average recovered to end up 20.84 points at 11,972.25.

The S&P500 closed down 11.54 points at 1,276.6 and the Nasdaq Composite was
35.48 points lower at 2,177.01.

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

G.

Morning all. Market reports:

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

The US Federal Reserve has resorted to the nuclear option in its ever-more depleted arsenal, invoking a Depression-era clause to shoulder the risk of losses stemming from the collapse of Bear Stearns, and to lend money directly to broker dealers.
Europe idle as US battles meltdown

Financial shares around the world were left reeling today following the spectacular collapse of Bear Stearns, with US rival Lehman Brothers bearing the brunt of investors' concerns that another lender may fall.
Lehman shares plunge as fear stalks financials

Fears that America is facing another bank collapse spread across Wall Street yesterday, despite emergency measures by the Federal Reserve Bank to prevent the US banking system from imploding and a government-backed rescue deal to save Bear Stearns.
Lehman Brothers slumps as Wall St wonders: who's next?

Lehman Brothers was anxiously trying to reassure customers about its financial stability yesterday as the US investment bank's market value fell by a third on fears that it could fall to the same fate as Bear Stearns.
We won't be next to fall, says Lehman

Wall street's leading investment banks have rallied around ailing rival Lehman Brothers after the Federal Reserve Bank of New York urged them to support the institution in order to try and preserve financial stability. As a result, it is believed that bankers were told not to solicit Lehman's clients for business or to give the impression the bank is uncreditworthy.
Wall Street rallies to aid Lehman

As the clock drew close to midnight, Bear and JP Morgan were close to a deal - one which it is understood to have valued Bear's shares, which closed at $30 on Friday night, at around $10 lower. However, as Sunday morning dawned, feedback that Dimon was receiving about some of the due diligence work concerned him.
Wall Street burns the midnight oil to save stricken Bear Stearns

Enraged shareholders at Bear Stearns are threatening an assault on the company's cut-price takeover by JPMorgan Chase, and its share price yesterday reflected hopes of an alternative outcome for the bank.
Bear Stearns faces action over cut-price takeover

British billionaire Joe Lewis is working to block JP Morgan Chase's $236m discounted takeover of Bear Stearns in order to negate the $1bn (500m) loss he now faces.
Billionaire Lewis moves to block JP Morgan

It turned out to be an expensive flutter: Joe "the boxer" Lewis, the reclusive tycoon behind Tottenham Hotspur football club, was last night nursing losses of more than $1bn after the knockdown sale of the investment bank Bear Stearns.
Down, but not out - Spurs tycoon's $1bn slip up

MF Global, the world's largest broker of exchange-listed futures and options, sought to reassure investors it had enough funds for normal business, even as its stock plunged on Monday. MF Global shares dropped by as much as 78 percent on speculation the brokerage may have liquidity problems similar to those that caused the collapse and fire sale of Bear Stearns Cos Inc.
MF Global seeks to calm investors as stock plunges

The financial crisis engulfing the British economy has lurched to a new low as 51 billion was wiped off the value of the country's top companies. David Buick of the spread betting firm Cantor Index said: "No one in living memory has ever seen a banking crisis like this. I have worked in the Square Mile for 46 years and the outlook has never looked as bleak."
UK facing worst financial crisis 'in decades'

As the markets opened for trading yesterday, the Bank of England said immediately that it would make a further 5 billion available as panic caused interbank lending virtually to dry up. But as soon as the offer was announced, the bank was deluged with requests for almost five times that amount, with demands totalling 23.6 billion.
High street banks hold out their begging bowls

Britain's lenders are coming under renewed pressure following the meltdown at Bear Stearns and escalating fears that the full consequences of investments made in "toxic" US debt have yet to emerge.
British banks tainted by US toxic debt

HBOS, owner of Britain's biggest mortgage lender Halifax, was one of yesterday's biggest fallers on a stock market unnerved by the rescue takeover of the US banking group Bear Stearns.
HBOS hardest hit in Bear Stearns fallout

For anyone trying to sell a house at the moment, the latest bout of financial gloom from Wall Street could not have come at a worse time. Estate agents across the country were reporting "grim times ahead" yesterday, with buyers "virtually non-existent" in many areas.
House prices and mortgage deals down - dire predictions up

The pound suffered its biggest one-day fall since Black Wednesday 16 years ago, as traders fretted that a UK bank could be one of the next casualties of the global financial crisis. Sterling dropped almost 2pc against a basket of other leading currencies - its worst day since being ejected from the Exchange Rate Mechanism in 1992.
Pound suffers worst fall since 1992

As Bear Stearns careened toward its eventual fire sale to JPMorgan Chase last weekend, the cost of protecting its debt, through an instrument called a credit default swap, began to rise rapidly as investors feared that Bear would not be good for the money it promised on its bonds.
Credit Default Swaps: The Next Crisis?

Gold will continue to set new record highs in coming weeks, experts have predicted, despite suffering a sharp sell off this afternoon, alongside other metals and oil.
Gold set to storm higher, experts say

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

Hello traders!

In Asia today, the Hang Seng was down 244.27 points at 20,840.34 at midday,
while the Nikkei was recently ahead 137.12 points at 11,924.63.

New York's main oil contract, light sweet crude for April delivery was at $106.19 a
barrel, off its all-time high of $111.80 struck on Monday.

Happy trading!

G.

OUTLOOK Legal & General FY profit seen down 12.7 pctOUTLOOK Autogrill FY results up as sales offset weaker marginsTFN economic and business calendarThomson Financial Europe AM at a glance share guide: Stocks mixed, dollar slips

Australian shares close little changed in erratic trade

Australian shares close little changed in erratic session - UPDATETFN UK calendar and forecasts for todayTokyo shares close higher after three-day fall

The Tuesday Press Roundup

London shares outlook - higher after bank-led sell-off; all eyes on FOMC meeting

BROKERWATCH British Energy upped to 'hold' vs 'sell' at ING, target to 660p

Tokyo shares close higher after three-day fall - UPDATECORRECTION London shares outlook - higher after sell-off; all eyes on FOMC

BROKERWATCH Drax cut to 'underweight' vs 'equal-weight' at Morgan StanleyThomson Financial UK at a glance share guide

BROKERWATCH AstraZeneca could pay up to 1,425p for Shire and create value - UBS

STOCKWATCH Legal & General set to fall after FY results disappointBROKERWATCH BAE Systems reiterated as 'buy' by ABN Amro

UK smallcap opening - Granby Oil climbs on agreed Silverstone mop-up deal

UK smallcap opening - KBC Advanced Technologies higher after FY results

London shares open higher, fuelled by financials after bank-led sell-off Monday

UK smallcap opening - Patagonia Gold edges up on positive drilling news

UK smallcap opening - Vislink plunges on 2008 profits warning

UK smallcap opening - Blacks Leisure slides on profit warnings