10:00AM New York – U.S. stocks declined after the U.S. dollar declined in international trading and weakness in the Europe and Asia.

U.S. stocks fell in the morning as dollar fell to a 3-year low against yen, record low against euro and yearly low against Asian currencies.

U.S. popular indexes fell 0.5% after first thirty minutes of trading. Asian markets closed sharply lower on the persistent worries related to the U.S. economy. Nikkei 225 index in Tokyo fell 4.5% and Sensex 30 index in Mumbai plunged 5%. Hong Kong and Australia dropped 3%.

European markets traded lower on the weak sentiment in the banking sector. Spain led the decliners in the region with a loss of 2% followed by declines in Switzerland of 1.8%, Italy and Germany of 1.6%, and in UK of 1.02%.

United Technologies (UTX) offered $2.63 billion in cash to purchase of Diebold Inc, (DBD) automatic teller machines network operator and security systems provider. The offer of $40 per share represents 66% premium to the Friday closing price of $24.12.

HSBC profit rose 21.2% in 2007 and earnings per share increased 18%

HSBC bank reported 2007 operating income rise of 25% to $87,601 million and net operating income rose 12.7% to $61,751. Group profit tax rose 9.6% $24.2 billion and after-tax profit increased 21.2% to $19.133 billion.

Net interest income increased to $37.79 billion from $34.486 billion. Loan impairment charges increased to $17.2 billion in 2007 from $10.57 billion in 2006.

In 2007, bank declared 90 cents dividend per share, 11% from a year ago and at the end of the year tier 1 capital ratio of 9.3%.

Customer accounts and deposits increased 19.7% to 1.228 trillion from $996.5 billion.

Thornburg Mortgage plunges on margin calls

Thornburg Mortgage has been subject to additional margin calls of approximately $270 million on its reverse repurchase agreement borrowings outstanding as of February 29, 2008. The Company has not met the majority of its most recent margin calls, but it is working to meet all of its outstanding margin calls and there is no guarantee that it will be able to do so.

Thornburg (TMA) fell 54% or $4.78 to $4.18 on the news.

As of February 27, 2008, Thornburg Mortgage had met all margin calls, including margin calls received between February 14 and February 27, 2008, in an amount in excess of $300 million, on our reverse repurchase agreements, the substantial majority of which were related to the decline in valuations on our super senior mortgage securities backed by Alt-A mortgage loans.

The significant majority of those margin calls was triggered because of continued excess supply of similar types of securities into the market. After meeting all of its margin calls as of February 27, 2008, Thornburg Mortgage saw further continued deterioration in the market prices of its high quality, primarily AAA-rated mortgage securities, which triggered additional margin calls.