Currencies

• EUR/USD The euro continued its decline against the dollar after Standard & Poor's cut Italy's credit rating, adding to concern Europe's debt crisis will raise borrowing costs for countries in the region.
  • The rating for Italy, which has Europe's second-largest debt load, was lowered to A from A+, S&P said yesterday in a statement.
  • The euro slid to $1.3607 as of 1:19 p.m. in Tokyo from $1.3686 in New York yesterday.
  
  

• USD/JPY The dollar gained versus the yen before the Federal Reserve's policy meeting today.
  • The dollar bought 76.52 yen around 7:30 a.m. London time from 76.45.
  
  

• GBP/USD The British pound continues its losses against the dollar.
  • The pound traded at $1.5665 as of 9:23 a.m. in Tokyo from $1.5705 in New York yesterday.

Commodities

• Gold rebounded from its biggest drop in a week on concern that the European debt crisis is worsening, urging demand for haven assets including bullion.
  • Gold for immediate delivery gained as much as 0.4 percent to $1,785.72 an ounce, and traded at $1,781.46 at 10:36 a.m. in Singapore.
  • December-delivery bullion in New York advanced 0.3 percent to $1,783.90.

• Oil traded near the lowest in three weeks in New York after Standard & Poor's cut Italy's credit rating, stoking concern that world fuel demand will weaken as Europe's debt crisis worsens.
  • Oil for October delivery was unchanged at $85.70 a barrel in electronic trading on the New York Mercantile Exchange at 12:51 p.m. Singapore time.

Equities

• US Stocks fell in volatile trading Monday as another round of worry over Greece's sovereign debt and Standard & Poor's downgrade of Italy's credit rating battered the market.
  • The Standard & Poor's 500-stock index shed 11.92 points, or 1%, to 1204.09.
  • The Dow Jones Industrial Average finished 108.08 points lower, or 0.9%, to 11401.01.


• European stocks slid as investors speculated that Greece may not receive an aid payment that would help it avoid default.
  • Deutsche Bank AG (DBK) led banks lower after Germany's ruling party lost another regional election.
  • The U.K.'s FTSE 100 Index dropped 2 percent.
  • Germany's DAX Index lost 2.8 percent and France's CAC 40 Index fell 3 percent.

• Asian stocks fell after Italy's sovereign-credit ratings were cut; increasing concern Europe's debt crisis is worsening.
  • Sony Corp. (6758) slumped 3.9 percent, leading exporters' shares lower.
  • The MSCI Asia Pacific Index dropped 1 percent to 117.23 as of 1:23 p.m. in Tokyo.
  • Japan's Nikkei 225 Stock Average fell 1.5 percent.
  • Hong Kong's Hang Seng Index was little changed.

Sources: Bloomberg, FT