Equities: Focus is on the European financial sector. UBS kicked off the week showing a bigger loss in Q3 than expected. Today Credit Suisse said its structured-products business recorded a cut in valuations of 1.1 billion francs. The sector has been the biggest downward mover today at around -2.6% . Credit Suisse also said it is too early to predict an end to the turmoil in the credit markets.
Equities: CItigroup falls 7.3% to $38.35 in NY trading, on the rumor that the bank may have to cut its dividend or sell assets to shore up capital. The price is at the lowest in more than four years.