Stock market fixing:
Nikkei 225 -223.81
(-1.8%) 12,400.65
Topix -24.82 (-2%) 1,191.59
DAX 30 -30.33 (-0.48%) 6233.41
САС 40 -46.84 (-1.08%)
4293.34
FTSE 100 -30.70 (-0.56%) 5415.60
Dow -280.01 (-2.43%) 11230.73
Nasdaq -59.95 (-2.64%) 2209.81
S&P -43.28 (-3.41%) 1224.51
10YR +20/32 3.59% 103 10/32
Japan's stocks fell
after slumping commodities demand dented the earnings prospects for shipping
and resource companies and as banks retreated from yesterday's surge.
Mitsui O.S.K. Lines Ltd., the nation's largest iron-ore ship operator, lost 6.9%
after falling Chinese demand dragged commodity cargo rates to the lowest in a
year. Mitsui & Co., which has stakes in Gulf of Mexico and Australia oil
fields, fell 8.1% as crude traded near a five-month low. Sumitomo Trust &
Banking Co., which jumped by its daily limit yesterday, lost 4.8% as the U.S.
government's takeover of the nation's biggest mortgage lenders failed to quell
financial market concern.
Mitsui O.S.K. dropped 6.9%, while Kawasaki Kisen Kaisha Ltd., Japan's
third-biggest shipping line, lost 5.9%. Market leader Nippon Yusen K.K.
declined 4.5%.
European stocks fell, led by mining
and energy companies, as investors speculated the economic slowdown will hurt
demand for metals and oil dropped to a five- month low.
Anglo American Plc sank 8.2% and Rio Tinto Group dropped 6.7% as copper and
gold retreated. Total SA, Europe's
third-largest oil producer, slipped 2.4%, and Sevan Marine ASA, a Norwegian
builder of floating units for offshore use, slumped 16%.
Anglo American, the world's fourth-largest diversified mining company, slid 6%.
Rio Tinto, the world's third-biggest mining company, lost 5%. Xstrata Plc, the
fourth-largest copper producer, dropped 8%.
Copper fell to the lowest price in more than seven months on concern that
slowing global growth may curb demand. Gold sank for a seventh straight
session, touching a three-week low.
BHP Billiton Ltd. fell 5.4%. Total slid 2.4%. BP Plc, Europe's
second-biggest oil producer, lost 1.9%, the most in three weeks. Sevan Marine
slumped 16%.
Stocks fell Tuesday, in a volatile start to the
session, as investors mulled lower oil prices in the aftermath of Monday's big
rally sparked by the government takeover of Fannie Mae and Freddie Mac.
Federal officials warned Tuesday that the
budget deficit will be substantially higher this year, rising $246 billion to
$407 billion, partly as a result of the Fannie and Freddie bailout.
On Tuesday, Fannie and Freddie shares gained,
while the broader financial sector was mixed.
Company news: Dell founder Michael Dell bought
$100 million of Dell shares last week, it was announced after the close of
trade Monday.
McDonald's said August sales at its stores open
a year or more rose 8.5% in the month, topping forecasts.
