On Monday, the US markets were marred by the possibility that General Motors and Chrysler may be facing bankruptcy along with renewed concerns that banks may need more federal financing. As a result the markets ended up closing in the red. The Dow closed 254.16 points down (-3.27%) to end the day at 7,522.02. The index nosedived as it opened, and then continued to remain low through the day. The NASDAQ closed 43.40 points down (-2.81%) to finish at 1,501.80.
The negative cues at the US markets had their impact on the European bourses too. The UK’s FTSE closed 135.94 points down (-3.49%), ending at 3,763. The index slid as it opened and remained down through the day. Germany’s DAX closed 214.32 points down (-5.10%), ending trading at 3,989.
As of 8:15 am IST, Asian markets were seeing some marginal gains. Japan’s Nikkei is currently trading 72.75 points higher, up 0.88%. The Hang Seng is currently up 46.63 points (+0.35%).
WTI Brent crude oil was up $0.53 to $48.94 per barrel (+1.09%). Nymex light crude May futures was up $0.76 (+1.57%) to close at $49.17. April COMEX gold futures rose $1.50 (+0.16%) to close at $917.00 per ounce.
The Indian Rupee (Rs.) fell against the dollar by Rs. 0.32 and is currently trading at Rs. 50.90/92 against the greenback.