Markets Down

Markets tumbled around the world, the euro fell sharply against the yen and the US dollar;oil dropped below & #36;US90 a barrel and the Australian dollar plunged by over 5% in a matter of hours.The Australian dollar fell to a four year low overnight and lost more than 6% in value in a day; it then rebounded more than 2 US cents in late trading and early Asian dealings to be just over 72 US cents.For most of the day the Standard & #38; Poor's 500 was off 6%- 7% or more at times; the Dow and Nasdaq were down by similar amounts.But a late rebound in the last half hour of trading cut the losses to a more 'tolerable' 3.6% for the Dow and the S & #38;P 500 and 4.3% for Nasdaq. & #160;The Dow fell short of the 10,000 point level at the close after falling to a four year low during the day when it was down well over 700 points. The... [read full story]