enthusiasm for a Chinese stimulus plan.
The financial sector led the way lower after Barclays Capital analysts said they expect Goldman Sachs to post a quarterly loss for the first time in its history due to steep equity market declines. Goldman's shares lost more than 8 percent.
The Dow Jones industrial average <.DJI> fell 73.27 points, or 0.82 percent, to 8,870.54, while the Standard & Poor's 500 Index <.SPX> dropped 11.78 points, or 1.27 percent, to 919.21. The Nasdaq Composite Index <.IXIC>was down 30.66 points, or 1.86 percent, at 1,616.74.
NYMEX-NEW YORK, Nov 10 (Reuters) - U.S. crude futures ended higher in see-saw trading on Monday, with worries about a global downturn offset by China's stimulus plan.
News that Saudi Arabia told Asian refineries it would cut December supplies by 5 percent in compliance with an OPEC plan to reduce output was also supportive.
On New York Mercantile Exchange, December crude
CBOT-SOYBEANS - November
Support from China's stimulus plan and gains in crude oil. Neutral reaction to USDA's November crop production and supply/demand reports.
USDA estimated 2008 U.S. soy production at 2.921 billion bushels, above an average of analysts' estimates for 2.919 billion and below the USDA's forecast in October for 2.938 billion.
USDA trimmed its average soybean yield estimate to 39.3 bushels per acre, down from 39.5 bpa in October.
USDA pegged 2008/09 U.S. soy ending stocks at 205 million bushels, above an average of analysts' estimates for 194 million and unchanged from the USDA's forecast in October
CBOT-SOYOIL - December
FCPO-JAKARTA, Nov 10 (Reuters) - Malaysian crude palm oil futures ended up 1 percent on Monday after surging earlier in the session as record stock levels partly offset the impact of gains in U.S. crude oil markets.
The benchmark January contract
REGIONAL REGIONAL-BANGKOK, Nov 10 (Reuters) - Most Southeast Asian stock markets climbed on Monday, with Singapore rising more than 1 percent, led by financial shares such as DBS Group
Investors were cheered by China's $600 billion economic stimulus plan, the latest of many plans around the world aimed at limiting the economic fallout from the financial crisis.
Singapore's Straits Times Index <.FTSTI> closed 1.16 percent higher, while the Kuala Lumpur Composite Index <.KLSE> ended 1.15 percent higher.
Indonesian stocks <.JKSE> added 0.17 percent, the Philippines' benchmark index <.PSI> rose 0.92 percent and Vietnam shares <.VNI> inched up 0.01 percent. But Thai shares <.SETI> bucked the trend, falling 1.59 percent after a two-day rise.