Trader's Highlight

DJI-NEW YORK, Dec 1 (Reuters) - U.S. stocks tumbled on Monday as signs of a deepening economic slump around the world erased much of last week's sharp gains, with banks and retailers among Wall Street's biggest casualties.

Adding to the market's woeful day, the arbiter of U.S. business cycles declared that the United States entered recession in December 2007 and Federal Reserve Chairman Ben Bernanke said the U.S economy remained under considerable strain.

The Dow Jones industrial average <.DJI> dropped 679.95 points, or 7.70 percent, to end at 8,149.09. The Standard & Poor's 500 Index <.SPX> slid 80.03 points, or 8.93 percent, to 816.21. The Nasdaq Composite Index <.IXIC> lost 137.50 points, or 8.95 percent, to 1,398.07.

NYMEX-NEW YORK, Dec 1 (Reuters) - U.S. crude oil futures settled at a fresh 3-1/2-year low on Monday, after OPEC's weekend decision to defer any further output cut until mid-December.

On the New York Mercantile Exchange, January crude settled down $5.15, or 9.46 percent, at $49.28 a barrel, the lowest settlement since prices ended at $49.16 on May 23, 2005.

CBOT-SOYBEANS - January down 37 cents at $8.46 per bushel.

Soy down 4 percent to a 1-week low on falling stock markets, crude oil and gold, along with a firm dollar. Further pressure from rainfall in Argentina and some showers in portions of the drier areas in Brazil.

USDA reported export inspections of U.S. soybeans in the latest week at 37.5 million bushels, within trade estimates for 33 million to 38 million.

CBOT-SOYOIL - December down 1.47 cents at 31.11 cents per lb, January down 1.50 at 31.40.

Falling crude oil, stock markets and gold amid a firm dollar drag soyoil down 5 percent.

FCPO-KUALA LUMPUR, Dec 1 (Reuters) - Malaysian palm oil futures edged lower on Monday as sharp declines in crude oil markets offset fears that heavy rainfall and floods in key producing areas would hit output.

Talk of a possible slowdown in production as wet weather discourages harvesting could in the coming days support prices of palm oil, which are down nearly two-thirds from a record high of 4,486 ringgit per tonne in March as the global financial crisis roils commodity markets.

Benchmark February palm oil contract on the Bursa Malaysia's Derivatives Exchange settled down 4 ringgit at 1,628 ringgit ($449.6) per tonne after going as high as 1,675 ringgit.

Other traded months dropped between 4 and 50 ringgit <0#KPO:>. Overall trade rose to 13,054 lots of 25 tonnes each from 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Dec 1 (Reuters) - Southeast Asian stock markets fell
on Monday as early support from Wall Street's best week in 30 years gave way to profit-taking as investors feared another global sell-off in equity markets was near.

Thailand's benchmark index <.SETI> led losers, surrendering early gains and ending 2.7 percent lower after Standard & Poor's cut its country outlook to negative from stable.

Singapore fell 2.44 percent, while Malaysia <.KLSE>, which has been outperforming the region, lost 2.04 percent. Indonesia <.JKSE> snapped a four-day winning streak, declining 1.48 percent.