* Bank of America’s bad loans jump, shares fall by as much as 24 %.
* Goldman Sachs say that credit losses at Citigroup continue to grow at a rapid rate.
* Dow falls by over 3 % as worries over the Bank’s stress tests accelerate
* Oil tumbles $4.5 as global banking worries pervade.
It’s been a one way path since the start of the European session this morning with aggressive gains made by the Dollar pushed Eur/Usd and especially Cable lower. The Yen also rallied strongly as the risk aversion play came back to haunt the markets.
Ranges
Eur/Usd 1.2895 – 1.2985
Cable 1.4500 – 1.4585
Usd/Jpy 97.65 – 98.80
