UPDATE

The dollar dropped to a record low versus the euro on Tuesday, amid worries that credit-market turmoil will result in slower economic growth and lower interest rates from the Federal Reserve.

Oil rebounded from early lows to trade above $95 a barrel on Tuesday, boosted by recovering stock markets after talk of another cut in U.S. interest rates to help economies navigate the credit crisis.

Oil edged higher to stand above $94 a barrel on Monday, supported by a weak dollar and after some OPEC members pushed for action to stem their declining purchasing power.

Stocks fell on Monday as a downgrade of Citigroup, the No. 1 U.S. bank, fueled a sell-off in shares of financial services companies on renewed worry about mounting credit losses.

The dollar strengthened against the euro but fell against the yen on Thursday amid continuing fears in credit markets and falling stocks.

Stocks were set to open lower on Thursday after cautious outlooks from J.C. Penney Co. Inc. and Applied Materials Inc added to fears about the profit picture, while nervousness about the credit market persisted.

Oil prices slumped more than 3.5 percent Tuesday after the International Energy Agency cut its forecast for world oil demand growth, saying that the recent surge in crude prices had already hurt consumption.

Stocks, rebounding from a string of losses, rose 1 percent on Tuesday on higher-than-expected profit at Wal-Mart Stores Inc and oil prices below $93 a barrel.

Stocks rose on Monday, rebounding from last week's heavy losses as investors hunted for bargains in financial services and other sectors.

U.S. oil slid below $95 on Monday after top exporter Saudi Arabia said OPEC would look at raising output to brake oil's ascent towards $100 and safeguard world economic growth.

Technology stocks fell on Thursday as investors worried that the spillover from the credit crisis may be starting to hurt business spending.

Oil was on the cusp of the landmark $100 a barrel level on Wednesday, helping push gold towards a record $850 an ounce as an embattled dollar hit new lows.

Gold drifted lower on Monday tracking weaker oil but held above $800 an ounce, with an ailing dollar and positive fundamentals seen helping the metal to touch a record high set in early 1980.

Oil fell more than $2 on Monday after a warning by top bank Citigroup of more write-downs related to risky U.S. mortgages heightened concern over the economic health of the world's biggest fuel consumer.

U.S. film and television writers went on strike on Monday, after last-minute talks aimed at averting the Writers Guild of America's first strike in almost two decades collapsed.

Oil prices fell over a dollar on Monday, dragged down by fears of an escalating fallout in top energy consumer the United States from the subprime crisis and by easing tensions in the Middle East.

The dollar fell to one-week lows versus the yen on Monday, weighed down by fears of major losses at financial firms from credit market turmoil, while the Japanese currency benefited from hawkish policymaker comments.

Oil climbed more than $1 on Friday, holding near $94 a barrel as concerns about tight supplies in the run up to winter prevented a major sell-off.

The dollar dropped to a record low against the euro and a major currency basket on Friday, on persistent worries about credit and unreported losses at financial firms, which overshadowed a strong U.S. payrolls report.

Stocks fell on Friday as gains from an unexpectedly strong jobs report were quickly overwhelmed by fears of more fallout from the credit crisis.

Oil fell more than $1 on Thursday as investors cashed in on a new peak of $96 a barrel struck following a sharp decline in U.S. crude stocks and the U.S. Federal Reserve's interest rate cut the previous day.