DOW JONES-Wall Street fell on Thursday after the European Central Bank dashed hopes that policy-makers were preparing a financial "bazooka" to contain the debt crisis, and Germany rejected some proposals to add power to the euro zone's bailout fund.
U.S. markets have been on edge all week in anticipation of a summit deal that would come to grips with the euro zone's growing debt crisis, and pave the way for greater action by the ECB to hold down bond yields.
The Dow Jones industrial average <.DJI> tumbled 198.67 points, or 1.63 percent, to end at 11,997.70. The Standard & Poor's 500 Index <.SPX> fell 26.66 points, or 2.11 percent, to 1,234.35. The Nasdaq Composite Index <.IXIC> lost 52.83 points, or 1.99 percent, to close at 2,596.38.
NYMEX-NEW YORK, Dec 8 (Reuters) - U.S. crude futures fell a second consecutive day on Thursday after the European Central Bank dampened expectations for dramatic action to tackle the euro zone region's debt crisis.
After rising more than $1 on supportive U.S. jobless claims data, crude prices fell back when ECB President Mario Draghi discouraged expectations that the bank would step up buying of government bonds if European Union leaders, gathered in Brussels, agreed on moves to strengthen the fiscal union.
On the New York Mercantile Exchange, (month) crude
CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade ended firm as short-covering ahead of a monthly U.S. government crop report offset pressure from a firmer dollar and weaker crude oil, traders said.
Gains limited as the U.S. dollar firmed and crude oil and equities fell on investor dismay at the European Central Bank's lukewarm support for aggressive action to ease the region's two-year old debt crisis.
USDA reported export sales of U.S. soybeans in the latest week at 795,600 tonnes (old and new crop years combined), above trade estimates for 550,000 to 650,000 tonnes.
FCPO-KUALA LUMPUR, Dec 8 (Reuters) - Malaysian palm oil futures dropped on Thursday as investor doubts grew over European leaders coming to an agreement to tackle a debt crisis in a make-or-break summit this week.
Prices of the vegetable oil have fallen 18 percent so far this year as the two-year euro zone debt crisis continues to deepen although losses have been limited with crude oil above $100 and heavy rains hitting production.
Benchmark February palm oil futures
REGIONAL EQUITIES-KUALA LUMPUR, Dec 8 (Reuters) - Southeast Asian stock markets fell on Thursday, anxious about coming key events in the euro zone and as doubts emerged about the ability of European leaders to agree on a plan to tackle that region's debt crisis.
The emerging sharemarkets were largely dominated by domestic trading of stocks, with late bargain hunting helping erase some losses in Thailand and Indonesia.
Singapore-listed CapitaLand Ltd
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