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| Version 1 | Version 2 |
|---|---|
| US stocks volatile on weak dollar | US stocks volatile on weak dollar |
| (about 2 hours later) | |
| US shares were volatile in Thursday trading, hit by the weak dollar and news that a unit of private equity group Carlyle was near collapse. | US shares were volatile in Thursday trading, hit by the weak dollar and news that a unit of private equity group Carlyle was near collapse. |
| Sentiment was further knocked by record oil prices, prompting investors to move money to haven assets such as gold. | Sentiment was further knocked by record oil prices, prompting investors to move money to haven assets such as gold. |
| The main Dow Jones index was up 51 points or 0.5% to 12,161 in afternoon trading, after earlier being down 1.8%. | |
| European and Asian stocks had finished lower, and analysts warned of more market volatility in coming weeks. | European and Asian stocks had finished lower, and analysts warned of more market volatility in coming weeks. |
| 'Dominant factor' | 'Dominant factor' |
| Earlier in the day, the price of a barrel of benchmark US light crude oil passed $110 in Thursday trading, while gold hit $1,000 for the first time. | Earlier in the day, the price of a barrel of benchmark US light crude oil passed $110 in Thursday trading, while gold hit $1,000 for the first time. |
| We are entering dollar crisis mode Currency economist Derek Halpenny | We are entering dollar crisis mode Currency economist Derek Halpenny |
| Economic concerns and the weak dollar overshadowed Tuesday's announcement that central banks would inject more than $200bn (£98bn) into money markets to ease the credit crunch and stimulate lending. | Economic concerns and the weak dollar overshadowed Tuesday's announcement that central banks would inject more than $200bn (£98bn) into money markets to ease the credit crunch and stimulate lending. |
| US investor sentiment was further hit by official figures showing a larger than expected fall in American retail sales in February. | US investor sentiment was further hit by official figures showing a larger than expected fall in American retail sales in February. |
| However, there was some good news as credit rating agency Standard & Poor's said the end was in sight for bad mortgage debt write-downs. | |
| "The dollar will remain the dominant factor until the Federal Reserve meeting next Tuesday," said analyst Olivier Jakob of Petromatrix. | "The dollar will remain the dominant factor until the Federal Reserve meeting next Tuesday," said analyst Olivier Jakob of Petromatrix. |
| "But oil will also have to balance with equities under the pressure of more credit hedge funds going belly-up." | "But oil will also have to balance with equities under the pressure of more credit hedge funds going belly-up." |
| The UK's main FTSE 100 index closed down 84 points, or 1.5%, at 5,692. | The UK's main FTSE 100 index closed down 84 points, or 1.5%, at 5,692. |
| Germany's Dax lost 1.5%, France's Cac gave up 1.4%, and Japan's Nikkei closed down 3.3%. | Germany's Dax lost 1.5%, France's Cac gave up 1.4%, and Japan's Nikkei closed down 3.3%. |
| "We are entering dollar crisis mode," said Derek Halpenny, currency economist at BTM-UFJ in London. | |
| "Looking at the markets there is a complete loss of confidence and that's because the markets are concerned over the US financial sector and ultimately what the Federal Reserve will be forced to do to support that sector." |