Palm | Kelapa Sawit

DJI-NEW YORK, Sept 22 (Reuters) - U.S. stocks tumbled on Monday as investors worried a $700 billion bailout for the financial sector may not resuscitate a slumping economy, while a record spike in oil prices renewed concern about consumer spending.

The Dow Jones industrial average <.DJI> dropped 372.75 points, or 3.27 percent, to 11,015.69. The Standard & Poor's 500 Index <.SPX> slid 47.99 points, or 3.82 percent, to 1,207.09. The Nasdaq Composite Index <.IXIC> fell 94.92 points, or 4.17 percent, to 2,178.98.

The Bush administration is pressing Congress to approve one of the costliest U.S. bailouts for financial companies since the Great Depression, but debate about the particulars of the plan continues on Capitol Hill. A top Congressional Democrat on Monday said Treasury had agreed to take an equity stake in the firms that unload assets under the rescue plan, though other details remain unclear.

NYMEX-NEW YORK, Sept 22 (Reuters) - U.S. crude oil futures surged to end nearly 16 percent higher on Monday as the weak dollar and a financial rescue plan seen as inflationary sent the expiring October crude contract surging to its biggest one-day gain on record in volatile trading.

Crude rocketed to $130 per barrel intraday, a jump of $25.45 or 24.3 percent."The move is in response to the dollar, with the rescue plan being seen as inflationary, making commodities a hedge against the dollar, at least in the short term," said Phil Flynn, analyst at Alaron Trading in Chicago.

On the New York Mercantile Exchange, expiring October crude rose $16.37, or 15.65 percent, to settle at $120.92 per barrel, trading from $103.35 to $130.NYMEX November crude rose only $6.62, or 6.44 percent, to settle at $109.37 a barrel, trading from $101.98 to $110.45.

CBOT-SOYBEANS - November up 61-1/2 cents at $12.05 per bushel, January up 62-3/4 at $12.22.

Sharply higher on dollar weakness and gains in gold, crude oil and soyoil after news the U.S. government plans to bail out the financial sector; plan seen as boosting inflation. Back months climb the 70-cent daily limit.

SOYOIL - October up 2.63 cents at 49.55 cents per lb.Following as crude oil futures soar. Higher global vegoil markets add support. Trading limits expanded to 3.5 cents per lb for Monday's session.

FCPO-JAKARTA, Sept 22 (Reuters) - Malaysian crude palm oil futures rose more than 3 percent on Monday as a crude oil rally helped allay fears of slowing demand.

The benchmark December contract finished up 85 ringgit, or 3.76 percent, at 2,344 ringgit ($744) a tonne.

REGIONAL EQUITY-Asian stock markets rose after more details about the U.S. government's $700 billion crisis solution encouraged bargain hunting, but questions lingered about long-term implications and the economic outlook.

Vietnam's Ho Chi Minh Stock Exchange index <.VNI> up 4.74% had its biggest daily gain since March 2008, following the government's comment that inflation in September would slow. Singapore's Straits Times index <.FTSTI> fell 0.6 percent. Thai shares <.SETI> lost 1.7 percent.