LONDON (Thomson Financial) - US SUMMARY: Stocks, oil fall on global recession worries Index Change Percent change *DJIA 8378.95 -312.30 -3.59 *Nasdaq 1552.03 -51.88 -3.23 *S&P 500 876.77 -31.34 -3.45 eur-usd 1.2612 -0.0240 Brent crude Nymex $64.15 -$3.69 10 yr US treasury 3.72 percent * Friday's close STOCKS: Wall Street joined stock markets around the world in a huge selloff Friday, sending major market indexes to their lowest levels in more than five years on the belief that a punishing economic recession is at hand. A grim outlook from electronics maker Sony helped trigger the selling, and another bleak forecast from the automaker Daimler added momentum to the drop. That followed news in the U.S. late Thursday from Microsoft Corp., which issued a weaker-than-expected forecast for its fiscal second quarter, pointing to the economy; other big U.S. companies have scaled back their forecasts as they announced third-quarter earnings. FOREX: The dollar soared against European and emerging-market currencies while plunging against the yen Friday, capping off a week of fresh multiyear highs and lows amid growing fear of a global meltdown. The British pound traded at $1.5872 in late New York trading Friday, down sharply from $1.6124. News that the British economy shrank 0.5 percent in the third quarter confirmed fears of an impending recession and launched the currency's freefall. The 15-nation euro traded at $1.2612 late in New York, down sharply from $1.2852 late Thursday. During Asian trading, the dollar sank to its lowest level against the yen in 13 years. The dollar fell as low as 90.89 yen before trading at 94.52 yen, down from 96.05 yen late Thursday. BONDS: Demand for U.S. Treasurys remained high as investors sought safe places to put their money. OIL: Oil prices tumbled despite OPEC's decision to slash output by 1.5 million barrels in a bid to shore up sagging prices. METALS: Gold prices briefly plunged to a 21-month low Friday as world stock markets plunged, puzzling some analysts who believe the traditional safe-haven asset should be soaring amid the economic turmoil. Gold for December delivery fell as much as $33.70 to $681 an ounce on the Nymex. Prices later rose $15.60 to end at $730.30 an ounce. December silver lost 20.5 cents to $9.295 an ounce, while December copper fell 11.8 cents to $1.6865 a pound. ASIA SUMMARY: Stocks sink on worsening global economy Index Change Percent change Nikkei 225 7612.00 -37.08 -0.48 (0407 GMT) S&P/ASX 200 3799.00 -70.40 -1.82 (0429 GMT) Hang Seng 11904.66 -713.72 -5.66 (0412 GMT) Seoul Composite 922.87 -15.88 -1.69 (0428 GMT) BSE Sensex 8520.64 -180.43 -2.07 (0427 GMT) 10-year JGBs 1.510 (Intra-day trade) STOCKS: Asian shares extended losses on Monday, with Japan's Nikkei briefly hitting its lowest since 1982, as central bank policy moves including a record rate cut in South Korea were not enough to allay fears of a global recession. Trading was chaotic amid continued doubts over whether governments can stem a crisis that is menacing financial markets, worldwide economic growth and company earnings. BONDS: Japanese government bond futures fell on Monday with big domestic banks seen continuing to take profits in the cash bond market to help cover losses from tumbling Tokyo share prices, which hit a 26-year low. FOREX: The yen slipped slightly against the dollar after Japan pledged fresh measures on Monday to try to shield the world's second-biggest economy from the financial crisis and said the Group of Seven would issue a joint statement on the yen, which has risen rapidly as investors flee riskier investments. The dollar edged up to 94.05 yen from near 93.60 after the comments, holding off a 13-year low of 90.87 yen hit on Friday. The euro rose to 118.30 yen from 117.65 yen. OIL: Oil was little changed at around $64 a barrel on Monday after tumbling $4 to a 16-month low on Friday as an emergency OPEC production cut was shrugged off by traders anxious about the onset of a global recession. U.S. light crude for December delivery fell 5 cents to $64.10 a barrel by 0020 GMT, erasing earlier gains of as much as 81 cents at the start of electronic trading. London Brent crude fell 20 cents to $61.85. GOLD: Gold rose more than 1 percent in Asia on Monday as investors scoured for safe havens amid fresh government efforts to calm turmoil. Spot gold was quoted at $739.40 an ounce at 0145 GMT versus $731.50 late in New York on Friday. Spot silver was fetching 9.31 an ounce versus $8.63 in New York on Friday. Spot platinum was quoted $799.00 an ounce versus $787.50 in New York on Friday, while spot palladium was up $1 to $166.00 an ounce. EUROPE SUMMARY: Shares fall on economy fears; oil slides Index Change Percent change *FTSE 3883.36 -204.47 -5.00 *DAX 4295.67 -224.03 -4.96 *CAC 3193.79 -117.08 -3.54 Brent crude $62.57 -$3.35 (1530 GMT) * Friday's close STOCKS: European shares fell to their lowest close in more than five years on Friday as official data showed that Europe seemed to be plunging into recession and bearish company updates intensified investors' fears. The FTSEurofirst 300 index of top European shares fell 4.9 percent to 829.73 points, its lowest finish since May 2003, having sunk as low as 787.29 earlier in the session. Britain's FTSE 100 fell 5.0 percent to end below 4,000 as the UK's first monthly GDP decline in 16 years increased the gloom surrounding the economy, hitting banks and energy stocks. FOREX: Sterling tumbled on Friday, hitting record lows against the euro and six-year lows against the dollar after data showed the UK economy contracted in the third quarter. Repatriation flows and carry trade unwinds bolstered the dollar and the yen, while high-yielding currencies such as the pound were pummelled as European shares slumped by nearly 9 percent. By 1428 GMT, the pound had recovered slightly against the dollar, but was still down 3.7 percent at $1.5727. The euro was up 1.2 percent at 80.62 pence. Against the yen, sterling dived as far as 139.12 yen, its weakest since 1995. BONDS: Euro zone government bonds rallied on Friday, pushing two-year yields to three-year lows as a rout in global equities sent investors scurrying to the relative safety of government debt. British gilt futures were up strongly in late trade on Friday, but pared some earlier gains caused by weaker-than-expected GDP data, which sparked a sell-off in equities and a flight to less risky government bonds. OIL: Oil slid more than $5 a barrel on Friday as gloom about a global economic downturn sapping fuel demand took the steam out of an OPEC agreement to take 1.5 million barrels a day of crude, about 5 percent of its supply, off the world market. U.S. light crude for December delivery traded down $3.30 at $64.54 a barrel by 1530 GMT. Earlier it touched $62.65, its lowest since May 2007. London Brent crude was down $3.35 at $62.57. METALS: Gold pared losses on Friday after sliding 5 percent in early trade, as the dollar retreated from highs against the euro and investors took advantage of lower prices to buy into the metal. Spot gold fell to $684.90 an ounce, a new 13-month low, before recovering to trade at $702.00/704.00 at 1335 GMT. It was quoted at $720.00 in New York late on Thursday. silver tracked gold's recovery after tumbling 10 percent to a session low of $8.74. It was later trading at $8.83/8.93 against $9.66. Platinum slumped to a near five-year low of $752 an ounce, as the firmer dollar added to existing pressure on the metal from a fall in demand linked to expectations for slowing economic growth. Platinum was quoted at $759/779, down from $802.50, while palladium was at $163.50/173.50, against $165.50.

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