Investors also focused on Greece, where financial markets are increasingly convinced the country will have to renegotiate the terms of its public debt. Greek officials denied that some form of debt rescheduling was imminent.
The Dow Jones industrial average <.DJI> was down 147.35 points, or 1.19 percent, at 12,194.48 The Standard & Poor's 500 Index <.SPX> was down 14.65 points, or 1.11 percent, at 1,305.03. The Nasdaq Composite Index <.IXIC> was down 32.34 points, or 1.17 percent, at 2,732.31.
NYMEX-NEW YORK, April 18 (Reuters) - U.S. crude oil futures fell on Monday, snapping three days of gains, as Standard & Poor's revised to negative its long-term credit outlook for the United States and Saudi Arabia trimmed output, citing oversupply and weak demand for its crude.
OPEC ministers meeting in Kuwait said costly oil could weigh heavily on consumer countries, seen as reflecting their belief that fuel demand has weakened.
On the New York Mercantile Exchange, May crude
CBOT-CHICAGO, April 18 (Reuters) - U.S. soybean futures ended higher on Monday, gaining ground along with corn and wheat rallies in relatively thin trading, traders said.
Gains in U.S. corn and wheat futures offset selling pressure led by sharply lower crude oil futures and weak equities markets.
FCPO-KUALA LUMPUR, April 18 (Reuters) - Malaysian palm oil futures rose 0.4 percent on Monday on hopes that buyers will switch away from more expensive rival soybean oil.
Palm oil, at a discount of more than $180 to soyoil, may
attract demand from price-sensitive China and India, the world's top two buyers ofthe vegetable oil.
The benchmark July crude palm oil contract
REGIONAL EQUITIES-COLOMBO , April 18 (Reuters) - Thailand stocks gained on Monday to a more than 15-year closing high on better quarterly earnings hopes, but other Southeast Asian markets closed mixed, squeezed by a rise in Chinese reserve requirements the previous day.
Volumes were thin as investors stayed on the sidelines amid growing concern over further monetary policy tightening to counter rising inflation after China on Sunday raised banks' required reserves for the fourth time this year.
Thailand <.SETI>, the region's best performer this year with a 5.6 percent gain, added 0.5 percent to its highest close since September 1996, the Philippines <.PSI> gained 0.4 percent to its highest in more-than five months, and Malaysia <.KLSE> added 0.4 percent.
Singapore <.FTSTI> lost 0.3 percent, Indonesia <.JKSE> closed 0.1 percent weaker, and Vietnam <.VNI> shed 1.2 percent to a more than six-week closing low.
