DJI-NEW YORK, Nov 6 (Reuters) - U.S. stocks sold off on Thursday in the worst two-day slide since October 1987 with disappointing corporate outlooks and bleak sales from major retailers fueling fears of a deepening economic downturn.
Cautious investors looked ahead to Friday's jobs payroll data, which is expected to further underscore the weakening economy after weekly jobless claims fell but still showed serious labor market strains.
The Dow Jones industrial average <.DJI> tumbled 443.48 points, or 4.85 percent, to 8,695.79. The Standard & Poor's 500 Index <.SPX> dove 47.89 points, or 5.03 percent, to 904.88. The Nasdaq Composite Index <.IXIC> shed 72.94 points, or 4.34 percent, to 1,608.70.
NYMEX-NEW YORK, Nov 6 (Reuters) - U.S. crude futures ended at a 19-month low on Thursday as demand worries persisted amid a slowing global economy.
The strength of the dollar against the euro also pressured crude futures.
On the New York Mercantile Exchange, December crude
CBOT-SOYBEANS - November
Front contracts draw late support from short-covering amid firm cash markets and recent Chinese demand, reflected in latest export sales data. Deferreds end down, with rally limited by weak outside markets, including crude oil, as recession worries continue.
USDA expected to lower U.S. soybean crop estimate to 2.919 billion bushels, from 2.938 billion in Oct 28 report.
CBOT-SOYOIL - December
FCPO-KUALA LUMPUR, Nov 6 (Reuters) - Malaysian crude palm oil futures slid 5.6 percent on Thursday as commodity markets mostly drew back on worries of a deepening economic recession.
The benchmark January contract
Other traded months fell between 25 and 64 ringgit by the midday break <0#KPO:>. Overall trade volume slipped to 8,881 lots at 25 tonnes each from the usual 10,000 lots.
REGIONAL EQUITIES-BANGKOK, Nov 6 (Reuters) - Stocks in Singapore and Jakarta fell to their lowest in nearly one week on Thursday as most Southeast Asian equities tracked a decline in global equities on concerns about a global recession.
Singapore <.FTSTI> slid 2.7 percent to its lowest since Oct. 31 while Malaysia <.KLSE> snapped a five-day winning run to drop 2.1 percent. The Thai index <.SETI> reversed its early falls to close up 1.2 percent, led by banks.
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