Almost a nightmare in Wallstreet, Commodities prices plunge

The price fall domino effect in Asia continued in Europe with France CAC40 index closed 9% lower and London's FTSE closed 7.8% lower. In the US, the benchmark Dow Jones Industrial Average falls 3.8% to closed under the psychological 10,000 points at 9,955.50 a level not seen since 2004. There was a high selling pressure in the earlier trading session as the DJI went to as low as 9525.32 points before climbing back about 400 points in the afternoon. It was almost a nightmare.

The US$700 billion bailout plan seems not able to create enough confidence for investors who fear of the inevitable recession. Even prices of commodities plunged yesterday. Crude oil falls below US$90 per barrel. Price of Light Crude futures November delivery closes at US$88.65 per barrel. Price of Crude Palm Oil in Malaysia went below its 10% limit down intraday but managed to climb back a little higher to close 9% lower from the previous day's low. The price of Crude Palm Oil futures december delivery closed below RM2,000 per metric ton at RM1,820. Price of Soybeans fell about 7% in the Chicago Board of Trade.

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