All three major indexes posted their worst percentage drop since July 16 following the Federal Reserve's bleaker assessment of the economy on Tuesday. The U.S. central bank said it would take steps to hold down borrowing costs. However, some traders questioned how effective these measures would be.
The Dow Jones industrial average <.DJI> was down 265.42 points, or 2.49 percent, at 10,378.83. The Standard & Poor's 500 Index <.SPX> was down 31.59 points, or 2.82 percent, at 1,089.47. The Nasdaq Composite Index <.IXIC> was down 68.54 points, or 3.01 percent, at 2,208.63.
NYMEX-NEW YORK, Aug 11 (Reuters) - U.S. crude oil futures ended lower for the second day in a row on Wednesday, posting the biggest two-day loss in more than five weeks as a larger-than expected rise in fuel stocks sparked renewed demand worries.
News of slower growth in China's investment, factory output and oil demand as well as cautious economic outlooks from the Federal Reserve and the International Energy Agency raised more anxiety about global economic recovery.
On the New York Mercantile Exchange, crude for September delivery
CBOT-CHICAGO, Aug 11 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday. Positioning ahead of the release on Thursday of USDA's August crop production reports, which are expected to show large U.S. corn and soybean crops.
CBOT-SOYBEANS - August
CBOT-SOYOIL - August
FCPO-JAKARTA, Aug 11 (Reuters) - Malaysian crude palm oil futures ended up 0.22 percent on Wednesday, as gains in the wheat market offered support but concerns over weaker demand weighed on the market.
Traders fear palm oil demand growth may stall as India and China, the world's two largest vegetable oil consumers, rely more on soyoil imports.
The benchmark October crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Aug 11 (Reuters) - Southeast Asian stock markets fell on Wednesday, wary of the weaker U.S. economic outlook, with banks leading Singapore's fall to three-week lows and a softening oil market pushing energy shares down across the region.
The U.S. economic environment kept investors cautious over the pace of recovery in Asia as well as the outlook for exports. Share markets in Malaysia <.KLSE> and Thailand <.SETI> touched their lowest in two weeks and Indonesia <.JKSE> a one-week low.
In Singapore, the benchmark Straits Times Index <.FTSTI> ended down 1.2 percent. Singapore shares have pulled back around 3 percent from a year-high of 3,043.28 set on Aug. 3 as quarterly earnings and GDP numbers are now mostly out and the market is sizing up the possibility of a global economic relapse.
Banks were among losers in Singapore, with DBS Group
Malaysia's top power producer Tenaga Nasional