MARKETS

U.S. stocks suffered steep losses as investors' concerns over the financial health of European governments triggered a flight to safer assets. The Dow Jones Industrial Average dropped 130.78 points, or 1.05%, to 12381.26, with all but one component, McDonald's, in the red. Technology and energy stocks led the Standard & Poor's 500-stock index to a slump of 15.90 points,

US equities were under pressure during the last week gyrating in a tight range as commodities and currencies pushed and pulled equities up and down. Outside influences such as European debt concerns, and weak US housing data offset strong earnings data from Wal-mart and Home Depot.

As the trading week begins, two lingering concerns are playing havoc with the common currency Euro, pushing it broadly lower and resulting in a record low against the safe haven Swiss Franc.

In London trading today, the FTSE has been experiencing heavy, broad-based selling.

Markets across the globe racked up big losses yesterday and overnight.

The Australian share market ended the day deeply in the red at a two-month low as finance stocks lost the most ground amid widespread selling.

China´s manufacturing index hit a 10-month low in May according to a ´´flash´´ estimate by HSBC. But price pressures eased with input prices at a 9-month low.

Major stock indexes fell for a third straight week as worries about the Greek debt situation percolated and troubling profit reports from Gap and Aeropostale prompted concerns about consumer spending.

In the minds of most investors, the U.S. Federal Reserve Bank assumes the role of leader of the world's economies, with the ECB generally viewed as its close second.

Global and more importantly, Chinese steel production continues to run at near record pace.

Did we see the eurozone financial crisis step up a notch late on Saturday?

After a modest 0.5 pct gain last week, the Australian sharemarket is pulling back at lunch with the All Ordinaries index (XAO) down 1.56 pct or 74.9 pts to 4732.8. All sectors are trading in the red with the financials the worst after 2.5 hours of trade.

By Keith Fitz-Gerald, Chief Investment Strategist, Money Morning Thursday, May 19, 2011: Issue #1516To hear the mainstream media tell it, the commodities bubble has burst.

Following almost a month of speculation, James Packer, along with a prominent hedge fund, has moved to pick up a massive stake in daily deals sites.

Agribusiness Elders (ASX:ELD) posted improved sales and earnings together with reduced debt in its 2011 interim profit announcement issued today. It however lowered its profit forecasts for full year underlying profit.

Yesterday's release of several pieces of key economic data suggesting that the U.S. economy is growing at a sluggish pace, resulted in disappointed markets and investors.

Gold To Follow S&P 500 Lower Amid Broad-Based Risk Aversion- Gold Testing Key Trend Line Support, Poised to Break Lower- Correlation Studies Show AUD/USD a Proxy for Gold PricesBy Ilya Spivak, Currency StrategistFundamental Forecast for Gold: BearishGold prices rebounded last week, adding 1.

(This story was originally published on Wednesday, 18 June 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).

Ratings agency Fitch cut Greece´s credit rating by three notches to B+. Fitch also issued a negative outlook and commented that ´´the ratings downgrade reflects the scale of the challenge facing Greece in implementing a radical fi

The Australian share market closed moderately weaker, dragged down by materials stocks as investors digested lower base metals prices and the West Australian government's iron ore royalty hike.

Ratings agency Fitch cut Greece´s credit rating by three notches to B+. Fitch also issued a negative outlook and commented that ´´the ratings downgrade reflects the scale of the challenge facing Greece in implementing a radical fiscal and structural reform programme...´´.

Major stock indexes staged their second straight gain Thursday as a doubling in LinkedIn's share price spurred hopes that initial public offerings can lure more investors into risk assets.

Environment group Greenpeace has warned consumers of the possible dangers pose by children's toys made in China because of the high percentage of a harmful chemical found in them.

Wesfarmers (ASX: WES) has denied a plea from a group of its shareholders to put an end to Coles’ cut-price milk and dairy campaign.

The vast majority of Australian exporters are considering a price cut, as the Australian dollar continues to trade at levels that are causing the sector to become uncompetitive.

Daily update on share prices and consensus price targets.By Rudi Filapek-VandyckA profit warning followed by a gigantic sell-off has pushed shares in ATM services provider Customers ((CUS)) into the Bottom 50 of FNArena's Icarus Signal.

By Greg PeelThe Dow closed up 45 points or 0.4% while the S&P gained 0.2% to 1343 and the Nasdaq added 0.

A strong rally in Australian equities was enough to support the currency from the outset on Thursday pushing it towards 1.0680 where it spent most of the Asian session.

The Australian share market roared back to life Thursday after risk aversion in global equity markets moderated overnight and the local bourse broke above its 200 day moving average.