Tuesday, September 16, 2008

Trader's Highlight

DJI-NEW YORK, Sept 15 (Reuters) - Wall Street had its worst day since markets reopened after the September 11 attacks as fears about the U.S. financial system's stability surged on Monday after Lehman Brothers filed for bankruptcy and insurer AIG struggled for survival.

The day followed one of Wall Street's most agonizing weekends ever, which saw the demise of Lehman Brothers and forced Merrill Lynch to accept a takeover by Bank of America Corp .

The Dow Jones industrial average <.DJI> slid 504.48 points, or 4.42 percent, to 10,917.51 -- its biggest one-day point drop since September 2001.The Nasdaq Composite Index <.IXIC> dropped 81.36 points, or 3.60 percent, to 2,179.91.

NYMEX-NEW YORK, Sept 15 (Reuters) - U.S. crude oil futures fell on Monday and settled below the $100 a barrel level for the first time since March.

Lehman Brothers Holdings Inc's bankruptcy filing and fears about other financial institutions sent equities tumbling and weighed on oil futures already pressured after damage to energy operations from Hurricane Ike was less than feared.

On the New York Mercantile Exchange, October crude fell $5.47, or 5.41 percent, to settle at $95.71 per barrel, trading from $94.13 to $101.19.

CBOT-SOYBEANS - Down 23 to 29-3/4 cents, with November down 23 cents at $11.79 per bushel.

Pressured by declines in stock market and crude oil after Lehman Brothers filed for bankruptcy. But losses pared by short covering and spillover bullishness from Friday's USDA September crop report.

SOYOIL - Down 1.43 to 1.47 cents, with October down 1.43 cents at 46.08 cents per lb.Pressure from lower crude oil.

FCPO
-KUALA LUMPUR, Sept 15 (Reuters) - Malaysian crude palm oil futures tumbled 5.9 percent on Monday to hit a 15-month low as crude oil fell further below the key $100-a-barrel milestone, dragging down other vegetable oils, traders said.

The benchmark November contract on the Bursa Malaysia Derivatives Exchange fell as much as 140 ringgit to 2,240 ringgit ($649) per tonne, a level unseen since June 13, 2007.

REGIONAL EQUITIES-SINGAPORE, Sept 15 (Reuters) - Singapore shares hit a fresh two-year low on Monday, leading losses in Southeast Asian markets, as global markets tumbled after Lehman Brothers filed for bankruptcy protection and Merrill Lynch agreed to be sold to Bank of America.

Indonesian shares fell 4.7 percent to a new 18-month low on banks, while Singapore's benchmark Straits Times index dropped 3.3 percent to 2,486.5.Thailand fell 1.8 percent while Malaysia gave up 1.2 percent as both markets faltered under the prospect of drawn-out tussles in domestic politics.