Currencies

• EUR/USD The dollar weakened against most major counterparts amid speculation the Federal Reserve will introduce more measures to lower borrowing costs to stimulate the economy.
  • The dollar fell 0.2 percent to $1.3487 per euro as of 6:40 a.m. in London from the close in New York yesterday, trimming its weekly gain to 1.9 percent.

• AUD/USD The Australian currency reached the lowest level in more than a month versus the dollar on concern the global economy will slow as European leaders struggle to stem their region's debt crisis.
  • The Aussie touched 99.85 U.S. cents, the weakest level since Oct. 12, before trading 0.9 percent weaker at 99.95 cents at 12:42 p.m. New York time.

• USD/CAD Canada's dollar depreciated to the lowest level in five weeks as sovereign-debt turmoil in Europe and a decline in stocks and commodities overshadowed foreign investments in Canadian securities.
  • The loonie declined 0.5 percent to C$1.0293 per U.S. dollar at 5 p.m. in Toronto. One Canadian dollar buys 97.15 U.S. cents.

Commodities

• Gold fell the most in more than seven weeks as commodities and equities slumped after Fitch Rating said U.S. banks face a "serious risk" from Europe's debt woes. Silver, palladium and platinum also tumbled.
  • Gold futures for December delivery fell 3 percent to settle at $1,720.20 an ounce at 1:40 p.m. on the Comex in New York, the biggest drop for a most-active contract since Sept. 23.

• Oil headed for the first weekly decline since September in New York as signs Europe's debt crisis is spreading countered speculation economic recovery in the U.S. will boost demand in the biggest crude consumer.
  • Crude for December delivery declined as much as 81 cents to $98.01 a barrel in electronic trading on the New York Mercantile Exchange and was at $98.70 at 4:21 p.m. Sydney time.

Equities

• European stocks fell after Spain's borrowing costs surged to a euro-era record on waning demand at a bond sale, adding to concern the region's sovereign debt crisis is deepening.
  • The benchmark Stoxx Europe 600 Index lost 1.3 percent to 233.97 at the close in London.
  • France's CAC 40 slid 1.8 percent.
  • U.K.'s FTSE 100 dropped 1.6 percent


• U.S Stocks fell, sending the Standard & Poor's 500 Index to the lowest level in a month, as concern grew that Europe's debt crisis will worsen and lawmakers will fail to agree on plans to cut the American deficit.
  • The S&P 500 lost 1.7 percent to 1,216.13 at 4 p.m. in New York.
  • The Dow Jones Industrial Average sank 134.86 points, or 1.1 percent, to 11,770.73.

• Asian stocks fell for a fourth day amid concern about the levels of bad loans in China's property sector and as rising Spanish bond yields added to evidence that Europe's debt crisis is infecting major economies.
  • The MSCI Asia Pacific Index dropped 1.7 percent to 114.17 as of 1:41 p.m. in Tokyo, set for the lowest close since Oct. 10.
  • Japan's Nikkei 225 (NKY) Stock Average fell 1.3 percent.

Sources: Bloomberg, FT