Stock market fixing:
Nikkei 225 -109.52(-0.8%)14,160.09
Topix-4.41(-0.3%)1,399.84
DAX 30 -107.44(-1.5%)7118.50
САС 40 -87.22(-1.7%)5054.88
FTSE 100 -184.90(-2.9%)6191.60
Dow -199.15(-1.53%)12829.01
Nasdaq -23.83(-0.95%)2492.26
S&P -13.17(-0.92%)1413.42
10YR +13/323.78%100 24/32
OIL NYMEX +1.65(+1.30%)$128.70

Japan's stocks fell the most in a week, led by developers, after Credit Suisse Group lowered its rating on the sector saying a slowdown in bank lending could trim demand for building projects.
Sumitomo Realty & Development Co. the nation's third-biggest developer, fell the most in a week. Sapporo Hokuyo Holdings Inc. led a decline by banks after the regional lender forecast net income to fall 28% this year. Kobe Steel Ltd. surged to a four-month high after Credit Suisse raised its rating.
Sumitomo Realty & Development Co. sank 4.7% and was the biggest loser on the Nikkei. Mitsui Fudosan Co., Japan's biggest developer, slid 2.4%, while No. 2 Mitsubishi Estate Co. dropped 3.6%.
Sapporo Hokuyo declined 4.6%, the biggest loser among 85 banks included in the Topix. The company yesterday said turmoil in the financial market and the sluggish stock market will cause profit to fall this year. Towa Bank Ltd. slid 4.3%, the most since April 10.

European stocks fell as record oil prices weighed on the outlook for profits and analysts said the financial-market turmoil isn't over.
Air France-KLM Group, Europe's largest carrier, sank the most since March as crude topped $129 a barrel. Yell Group Plc tumbled 26% after the U.K. publisher cut its dividend and reported a drop in earnings in a ``very difficult economic environment.'' BHP Billiton Ltd. slumped the most in four months after a Morgan Stanley analyst said weaker Chinese demand may result in ``soft'' metal prices in the coming weeks.
Air France sank 4.9%. Ryanair Holdings Plc, Europe's largest discount carrier, slipped 6.1%.
Deutsche Bank AG, Germany's biggest bank, fell 1.3% and UBS AG, Europe's largest bank by assets, dropped 1.6%.
Marks & Spencer Group Plc fell 5%. The U.K.'s biggest clothing retailer reported slowing second-half profit growth, cut staff bonuses and predicted ``difficult'' conditions as British consumers pare spending.

Spiking commodity prices sent stocks on Wall Street lower Tuesday, as investors took a look at oil prices at more than $129 a barrel.
Steadily rising commodity prices have raised worries about how further pricing pressure will hit an already strained consumer.
Before the bell the Producer Price Index gained 0.2% in April, short of economists' expectations and following a rise of 1.1% in the previous month. But prices excluding food and energy costs rose 0.4%, twice what was expected.
Corporate news: Home Depot reported sharply lower sales and earnings that nonetheless topped forecasts.
Target reported weaker earnings due to tepid sales and higher costs. However, results topped forecasts.
Staples reported higher earnings that met forecasts on higher sales that topped estimates.

The dollar fell the most in almost two months against the euro as the price of oil rose above $129 for the first time and speculation increased that the European Central Bank will keep interest rates high.
The euro gained after an adviser to the German government said European policy makers may raise borrowing costs as soon as the financial crisis ends.
The Producer Price Index gained 0.2% in April, short of economists' expectations and following a rise of 1.1% in the previous month. But prices excluding food and energy costs rose 0.4%, twice what was expected.
The euro gained after a government report showed German producer-price inflation, an early indicator of price pressures in the economy, accelerated to the fastest pace in almost two years in April on energy costs.
The single currency briefly pared gains after an industry report showed investor confidence in Germany unexpectedly fell. The ZEW Center for European Economic Research said its index of investor and analyst expectations declined to minus 41.4, from minus 40.7 in April. Economists expected a gain to minus 37, according to a survey.
The Japanese currency held gains earlier after the Bank of Japan kept its benchmark interest rate at 0.5%. Governor Masaaki Shirakawa told a press conference inflation risks are rising globally.

EUR/USD fellto$1.5560 afterweaker-then-expectedZEW index. Later rate rebounded, printed new session high on $1.5670.
GBP/USD was positive, rising from $1.9530 to $1.9665 before it set stable around $1.9640/50. Later rate refreshed session high and printed new one around $1.9713.
USD/JPY was supported at Y103.70 before it rebounded to Y104.15. But general dollar’s weakness dragged the rate down to Y103.55.

In Europe the focus will be on Germany’s IFO business climate index. Analysts predict index fell to 102.1 in May from 102.4. UK will issue MPC minutes at 08:30 GMT.
Later (at 11:00 GMT) Canada inflation data will be released.
At 18:00 GMT attention will be on FOMC’s minutes, when Fed lowered rate to 2.0%.