10:00PM Frankfurt, 4:00PM New York, 8:00AM Sydney – European stocks struggled after the comments from the Fed Chairman and 12.5 billion francs loss at UBS. Banks across the region declined.

European Markets

In London FTSE 100 Index closed lower 5.40 or 0.09% to 5,874.70, in Paris CAC 40 Index increased 3.25 or 0.07% to close at 4,858.65 and in Frankfurt DAX index lower 11.39 or 0.16% to close at 6,962.28. In Zurich trading SMI decreased 34.46 or 0.46% to close at 7,501.99.


North American Markets indexes

Dow Jones Industrial Average lost 175.26 or 1.40% to a close of 12,376.98, S&P 500 closed down 18.35 or 1.34% to 1,348.86, and Nasdaq Composite Index traded down 41.39 or 1.74% to a close of 2,332.54. In Toronto TSX Composite closed down 167.84 or 0.57% to close at 13,208.03.

Of the 30 stocks in Dow Jones Industrial Average, 1 closed higher, 29 closed lower, and none were unchanged.

Exxon Mobil was the lone gainers in the Dow Jones index with a rise of 0.07%. Intel led the decliners in the index with a fall of 3.5% followed by losses in JP Morgan of 3.4%, in Home Depot of 2.9%, in American Express of 2.5%, and in General Motors of 2.4%.

Of the stocks in S&P 500, 56 closed higher, 444 fell, and none were unchanged. Of the index stocks, 63 rose more than 3% and equal number of 9 stocks fell more than 3%.

Liz Claiborne led the decliners in the index with a fall of 18% followed by declines in Nvidia of 16%, in Jones Apparel of 9.9% and in Office Max of 8%. Apollo Group, CIT, and Network Appliance lost more than 6%. Ambac Financial led the gainers in the index with a rise of 12% followed by gains in MBIA of 8.4%, in Comcast Corp 8%, and in Goodyear of 7.4%.

South American Markets Indexes

In Latin Markets Colombia led the gainers in the region with a rise of 1.49% followed by increases in Venezuela of 1.24%. Brazil led the decliners in the index with a fall of 1.23% followed by losses in Chile of 0.77%, and in Mexico of 0.57%.

Asian Markets

In Tokyo Nikkei 225 Index closed higher 558.15 or 4.27% to 13,626.45, in Hong Kong Hang Seng index increased 852.13 or 3.68% closed to 24,021.68. Australia ASX 200 index increased 142.70 or 2.57% to close 5,684.80.

In South Korea Kospi Index increased 65.67 or 4.02% to close at 1,697.45, in Thailand SET index closed higher 2.70 or 0.33% to 832.11 and Indonesia JSE Index edged increased 64.86 or 2.48% to 2,675.65. Sensex index in India increased 817.50 or 4.82% to 17,766.63.

Bond Yields increased on 10-year U.S. bonds to 3.80% and on 30-year bonds rose to 4.62%.

Commodities, Metals, and Currencies

Crude oil added $1.94 to close at $95.21 per barrel for a front month contract, natural gas increased 36 cents to $8.75 per mBtu, and gasoline futures increased 7.720 cents to close at 246.70 cents per gallon.

Gold increased $0.60 in New York trading to close at $910.80 per ounce, silver closed down 6 cents to $17.25 per ounce, and copper for front month delivery decreased 5.30 cents to 345.00 per pound and in London copper futures decreased $111.00 to $7,812.00.

Wheat futures rose 33.50 cents in Chicago trading and closed at $10.41 per bushel. Sugar increased 0.37 cents to 13.63 cents per pound. Soybean future closed up 38.50 cents to $13.85 per bushel.