The Dow Jones industrial average <.DJI> shed 99.80 points, or 1.12 percent, to 8,824.34. The Standard & Poor's 500 Index <.SPX> fell 8.76 points, or 0.96 percent, to 904.42. The Nasdaq Composite Index <.IXIC> fell 10.58 point, or 0.67 percent, to
1,579.31.
Financial stocks were unable to sustain their gains despite an analyst note that said Morgan Stanley's
NYMEX-NEW YORK, Dec 17 (Reuters) - Oil prices dropped to their lowest in more than four years on Wednesday after OPEC announced a record supply cut that dealers said may fail to fully offset slumping world energy demand.
U.S. crude oil prices
The Organization of the Petroleum Exporting Countries, eager to push prices back up, announced on Wednesday an agreement to cut 2.2 million barrels per day of output starting Jan. 1, the biggest single reduction on record.
CBOT-SOYBEANS - January
CBOT-SOYOIL - January
FCPO-JAKARTA, Dec 17 (Reuters) - Malaysian palm futures rose more than 2 percent on Wednesday, boosted by a rally in crude oil, sparked by expectations OPEC will agree a deep cut in oil output to rescue prices.
The benchmark March palm oil contract
Other traded contracts rose between 34 and 55 ringgit. The overall volume was thin at 6,905 lots of 25 tonnes each.
REGIONAL EQUITIES-BANGKOK, Dec 17 (Reuters) - Most Southeast Asian stocks gained on Wednesday, cheered by a rate cut by the U.S. Federal Reserve, with Sime Darby pushing Malaysia to a two-week high and Thai shares up for a seventh day as the political climate calmed.
Singapore's benchmark Straits Times Index <.FTSTI> drifted 0.16 percent lower at the close. In Kuala Lumpur, the benchmark index <.KLSE> closed up 0.9 percent.
Thailand's main stock index <.SETI> ended up a mere 0.14 percent. Indonesia's main index <.JKSE> gained 1.6 percent, ending slightly below its intra-day high of 1,376.10.