The market is down 125. The SFE Futures were down 123 points this morning after a shocking night in the US. All aussie sectors down - financials down the most - minus 3.3%. Resources off over 2%.Dow down 358. Down all session. Closed on its low. Dow has had its worst June since the Great Depression. Goldmans downgrades financials - puts some banks on conviction sell list. Financial sector smashed - down 4.4%. Talk of more bank write downs and capital raisings to come. The Bank Index nearly hit a 10-year low - down 3.9% to 60.20. UK banks also fell. Newrecord high in oil- intraday & #36;140+. OPEC say oil price could go to & #36;170. Libya threaten to cut production. US dollar down on suggestions the Fed can't raise rates even if they want to. On the back of the lower US dollar, commodity prices were up. Resources stocks down but outperforming. Gold has big rise up & #36;32 - Gold stocks up in the US. General Motors down 10% on a broker downgrade. Research in Motion down 13% on earnings comments. Nike down 9% on profit comments. All 30 Dow companies have experienced losses this month on the back of record high oil prices, high unemployment and the fear of more write downs.Both BHP and RIO down in ADR form overnight, 2.36% and 1.55% respectively. BHP down 123c to 4272c. RIO down 429c to 13189c.Metals all up overnight - Zinc up a big 6%, Aluminium up 1.4% and Copper 1.5%. Nickel up 0.5%. Zinifex flat at 820c.Oil price up a huge & #36;4.9 ...
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