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U.S. stocks dropped, sending the Standard & Poor’s 500 Index to a fourth straight weekly loss, as a deeper-than-estimated slide in consumer confidence added to concern the economic recovery will be delayed.

CIT Group Inc., the century-old lender that trades in the bond market as if it may fail, slid 18 percent on concern the Federal Deposit Insurance Corp. won’t guarantee its bond sales. Chevron Corp. helped lead the Dow Jones Industrial Average lower as oil completed its worst weekly drop since January and the company said the weaker dollar was slashing profit. Technology shares rose, limiting the market’s slide, following analyst upgrades of Yahoo! Inc. and MEMC Electronic Materials Inc.

Source: bloomberg.com

U.S. stocks fell for a third day, extending a global slump, as jobless claims topped forecasts and former Federal Reserve Chairman Alan Greenspan said the financial crisis isn’t over.

Regions Financial Corp. tumbled 19 percent after selling shares at a discount. The U.K.’s FTSE 100 Index plunged 2.5 percent and gilts slid after Standard & Poor’s said Britain may lose its AAA credit rating for the first time.

The S&P 500, which has rebounded 32 percent from its 12- year low on March 9, slid 1.2 percent to 892.24 at 10:05 a.m. in New York. The Dow Jones Industrial Average dropped 117.48 points, or 1.4 percent, to 8,304.56. Europe’s Stoxx 600 Index tumbled 1.6 percent, while the MSCI Asia Pacific Index lost 0.7 percent.

April’s record rally in European stocks pushed market valuations to the highest level in more than four years as investors bet the first global recession since World War II is easing.

The 13 percent advance in the Dow Jones Stoxx 600 Index last month sent the measure to 16.2 times its companies’ earnings, according to data compiled by Bloomberg. Forecasts for 2009 profit growth in the gauge fell to 18 percent on May 1 from 22 percent a month earlier, the biggest drop this year, after earnings declined 40 percent in 2008, according to data and analysts’ estimates compiled by Bloomberg.

The Indonesian stock market (IHSG) drop 4,36% today, despite Dow Jones rise up to 400 points. On Monday, BUMI.jk will be open for trading after suspension. According to my prediction, the IHSG will drop again on monday because of BUMI sell off and bad US single family home start. My plan is to enter again on Monday, which I think the market will have a technical rebound on tuesday.

Oct. 13 – U.S. stocks had the biggest rally in seven decades on a government plan to buy stakes in banks and a Federal Reserve led push to flood the global financial system with dollars.

The Standard & Poor’s 500 Index rebounded from its worst week in 75 years with an 11.6 percent advance, its steepest since 1939, and the Dow Jones Industrial Average climbed more than 936 points. Europe’s benchmark index climbed 10 percent, its best jump ever, and Asia’s added 3.1 percent.