US: U.S. stocks posted the steepest weekly drop since July 2002 after lower-than-estimated home construction, retail sales and manufacturing reinforced speculation that the economy is entering a recession.
Europe: European stocks declined for a sixth week after economic reports and earnings from the U.S. deepened concern the world's largest economy is sliding into a recession.
Asia: Asian stocks fell for a third week, on concern the world's largest economy will enter a recession. Sony Corp. and LG Electronics Inc. led losses among companies relying on U.S. sales after Citigroup Inc. and Merrill Lynch & Co. posted record losses.
Commodities: Crude oil rose for the first day in four in New York after President George W. Bush said a package of about $150 billion is needed ``as soon as possible'' to keep the economy growing. Gold rose for the first time in four days on speculation a U.S. recession will boost demand for the precious metal as an alternative investment. Silver also gained.
Currencies: The yen reached the strongest since May 2005 against the dollar as concern mounted that the U.S. is headed for recession, prompting investors to sell higher-yielding assets funded by loans made in Japan.
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