The Dow Jones industrial average <.DJI> plunged 444.99 points, or 5.56 percent, to 7,552.29. The Standard & Poor's 500 Index <.SPX> lost 54.14 points, or 6.71 percent, to 752.44. The Nasdaq Composite Index <.IXIC> slid 70.30 points, or 5.07 percent, to 1,316.12.
The number of American workers on the unemployment rolls surged to the highest in a quarter century, government data showed, while a regional manufacturing gauge slumped as the economic misery intensified.
Democratic leaders said automakers can submit another plan by Dec. 2, adding that the proposal could be considered the week of Dec. 8.
NYMEX-NEW YORK, Nov 20 (Reuters) - U.S. crude futures ended below $50 a barrel on Thursday, hitting a 3-1/2-year low as the front-month December contract expired amid worries about a weakened economy further cutting oil demand.
On the New York Mercantile Exchange, December crude
CBOT-SOYBEANS - January
Argentina estimates 2008/09 soy plantings at a record 18 million hectares, up from 16.6 million year ago.
CBOT-SOYOIL - December
FCPO-JAKARTA/KUALA LUMPUR, Nov 20 (Reuters) - Malaysian palm oil futures inched lower on Thursday, pressured by faltering crude oil prices on fears of slowing demand, traders said.
News of stronger exports for Nov. 1 to 20 failed to reassure the market as the increase is seen as too small to substantially reduce stock levels, traders said.
But prospects of a possible drawdown in palm oil inventories as bad weather hits production from December curbed losses later on in the session.
The benchmark February contract
REGIONAL EQUITIES-BANGKOK, Nov 20 (Reuters) - Southeast Asian stock markets touched 3-week lows on Thursday as mounting global recession fears fuelled sell-offs in regional blue chips and political strife plagued Thai shares.
Thailand's main index <.SETI> fell 3.59 percent, its lowest level since Oct. 29. Singapore shares <.FTSTI> dropped 3.1 percent to its lowest point since Oct. 28, with banking shares topping the loss column.
Philippine shares <.PSI> lost 3.5 percent. Jakarta shares <.JKSE> fell for a fourth day to close down 2.15 percent. Malaysian shares <.KLSE> extended their losses for a third day, ending down 1.4 percent.