Nearly 1 million homes nationwide are in the process of foreclosure, according to a U.S. Department of the Treasury report covering banks and loan servicers that make up 64 percent of all outstanding mortgages
Dollar and yen are broadly higher on broad based weakness in Asian equities where Nikkei dropped -1.33% to close below 9000 level at 8995. Meanwhile, crude oil also extends recent fall and breaches 83 level. Yen is even stronger as immediate intervention risk is cleared and is trading above last
Yen's rally accelerates today as risk aversion intensifies. European stocks are broadly lower while crude oil breaches 72 level on worry on global recovery. S&P chief economist David Wyss said that "there is still a realistic possibility in the U.S. that it's slipping into this pattern like Japan has", i.e.