10:00PM Frankfurt, 4:00PM New York, 8:00AM Sydney – The Federal Reserve lowered the fed funds rate by 0.5% to 3%. Market rallied after the rate cut, but quickly lost all the gains at the close.


European Markets

In London FTSE 100 Index closed lower 47.90 or 0.81% to 5,837.30, in Paris CAC 40 Index decreased 67.88 or 1.37% to close at 4,873.57 and in Frankfurt DAX index lower 17.61 or 0.26% to close at 6,875.35. In Zurich trading SMI decreased 32.58 or 0.42% to close at 7,671.81.

North American Markets indexes

Dow Jones Industrial Average fell 37.47 or 0.30% to a close of 12,442.83, S&P 500 closed down 6.49 or 0.48% to 1,355.81, and Nasdaq Composite Index traded down 9.06 or 0.38% to a close of 2,349.00.

In Toronto TSX Composite closed down 48.22 or 0.37% to close at 12,998.21.

Of the 30 stocks in Dow Jones Industrial Average, 13 closed higher, 17 closed lower, and none were unchanged.

Boeing led the gainers in the index with a rise of 2.36% after adding 4.33% in yesterday’s trading followed by increases in Disney of 2.1%, in Intel of 0.9%, in General Motors of 0.9%, and in Procter & Gamble of 0.6%. AIG led the decliners in the index with a loss of 4.1% followed by losses in Merck of 2.75%, in AT&T of 1.4%, and in Coca Cola of 1.3%.

Of the stocks in S&P 500, 178 closed higher, 319 fell, and 3 were unchanged.

Nineteen stocks rose more than 3% and fifty stocks fell more than 3%.

Ambac Financial Group led the decliners in the index with a fall of 16% followed by losses in MBIA of 12.6%, in International Flavors & Fragrances of 10%, and in Centex of 8.9%. Robert Half led the gainers in the index with a rise of 12% followed by increases in E*Trade of 10%, in Range Resources of 7%, in Dover Corp of 6.9%, and in CH Robinson of 6.2%.


South American Markets Indexes

In Latin Markets Peru led the advancers in the region with a gain of 2.67% followed by increases in Chile of 1.89%, in Argentina of 1.61%, in Brazil of 1.28%, and in Mexico of 0.12%. Colombia fell 1.1% and Venezuela declined 0.6%.

Asian Markets

In Tokyo Nikkei 225 Index closed lower 133.83 or 0.99% to 13,345.03, in Hong Kong Hang Seng index decreased 638.11 or 2.63% closed to 23,653.69, in Australia ASX 200 index lower 97.80 or 1.71% to close 5,618.70.

In South Korea Kospi Index decreased 48.85 or 2.98% to close at 1,589.06, in Thailand SET index closed higher 8.61 or 1.14% to 763.48, and Indonesia JSE Index edged increased 2.52 or 0.10% to 2,610.36. Sensex index in India decreased 333.30 or 1.84% to 17,758.64.

Bond Yields decreased on 10-year U.S. bonds to 3.67% and on 30-year bonds gained to 4.38%.

Commodities, Metals, and Currencies