Hello traders!

In the US tonight, the Fed cut both its Fed funds target and discount rates by 25
basis points and offered a more tepid assessment of the economy than equity
investors were looking for.

The Dow fell 225.6 points to 13,500.6, while the S&P500 slumped 38.31 points to
1,477.65 and the Nasdaq ended off 66.6 points at 2,652.35.

See you in the morning with the outfall.....

G.

Morning all. Market reports:

Telegraph
The Times
FT
The Guardian
The Independent
This is Money

The Federal Reserve cut interest rates in the United States for the third time in as many months, but the stock market went into a dive yesterday as investors accused the central bank of complacency.
Dow tumbles after 'inadequate' quarter-point rate cut from Fed

Borrowers are in rebellion and they owe an awful lot of money. Unfortunately, the lenders have not a clue who these people are.
Banks at bay over the colour of money

Property funds are shaping up as the next big asset class to trip up small investors, tarnish the reputation of the investment industry and challenge regulators.
Property being shaken to the foundations

The credit crunch has taken its toll on the FTSE 100 with seven companies set to be relegated from the benchmark UK index in the biggest shake-up since the dotcom crash.
FTSE 100 shake-up as credit crisis bites

The number of British companies going bust next year will reach its highest level since the fallout of the dot.com crash five years ago, according to accountant BDO Stoy Hayward. Business failures are forecast to increase 9pc in 2008 to 17,697, as the credit crunch, higher interest rates and slowing economic growth take hold. This is expected to rise to 18,142 in 2009. At the height of the dot.com bust in 2002, 20,000 companies failed.
Business failures 'to rise by 9pc'

Freddie Mac, the US government-sponsored mortgage lender, on Tuesday said it expected to report a net loss in the fourth quarter as defaults on home loans soar. The lender, which posted a record third-quarter net loss of $2bn, said it also expected to incur credit losses of between $10bn and $12bn on its mortgage portfolio.
Freddie Mac facing another net loss

China added to fears of a global double whammy of recession and rising prices yesterday when it reported consumer-price inflation jumped to 6.9 pc in November, the highest level for 11 years.
Chinese inflation fuels crisis fears

Germany's ZEW index of business confidence has fallen to the lowest level since 1993 as export orders fall and companies batten down the hatches for a serious global slowdown. The closely watched barometer dropped from minus 32.5 to minus 37.2 points in November, the clearest evidence to date that the credit crunch and the strong euro are inflicting damage on German industry.
German confidence at lowest since 1993

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

OUTLOOK Rank to say trading remains tough, as takeover speculation mountsTFN economic and business calendarAustralian shares close lower on disappointment over US rate cut

Good morning traders!

In Asia today, the Nikkei closed down 112.46 points at 15,932.26, while the Hang
Seng ended the morning down 676.52 points at 28,550.32.

New York's main oil contract, light sweet crude for January delivery, was 52 cents
lower at $89.50 dollars.

Happy trading!

G.

Australian shares close lower on disappointment over US rate cut - UPDATE

TFN UK calendar and forecasts for today

The Wednesday Press Roundup Tokyo shares close lower after Wall Street tumble

BROKERWATCH DLF upped to 'Hold', target raised to 1,077 rupees - ICICIdirect.com

London shares outlook - lower as NY falls after quarter point rate cut

Tokyo shares close lower on Wall Street fall - UPDATE

Thomson Financial UK at a glance share guide

morning all

UK smallcap opening - William Ransom rallies as recall no longer required

UK smallcap opening - Adili marked up on AIM debut

London shares open lower, financials and housebuilders fall following NY

UK smallcap opening - Zoo Digital firms as H1 losses narrow

UK smallcap opening - Romag higher on 44 pct FY profits increaseUK smallcap opening - Nanoscience ticks up on patent grant

UK small caps open sharply lower with wider market; Dechra drop on takeover news

STOCKWATCH Xstrata off lows on bid hopesMetals - Gold down after Fed rate cut but off lows as dollar gives up gains