Crude oil hits new record high, Asia stocks tumbling

SINGAPORE (Reuters) - Crude oil hit a new record high on Monday, knocking down Asian stocks already weakened by the prospect of a slowing Chinese economy and an early U.S. interest rate rise.
Stock markets in oil dependent South Korea, Taiwan and Japan were hardest hit. The U.S. dollar eased against both the euro and the Japanese yen, helping firm the spot gold price. Japanese government bonds gained as investors fled stocks.

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Crude oil futures hit an all-time high of $41.64 a barrel in electronic trade, up 26 cents from Friday's New York close. There are worries that tight world oil supply may fail to meet peak summer driving demand for gasoline in the United States.

http://biz.yahoo.com/rb/040517/markets_global_1.html

Everything is going to hell this morning. The stock market in India is down about 15%.

It will be interesting to watch the stock market thread today. Bad Market = lots of DU posts.

--bkl
Heavily leveraged in food, rent, and debt

Or I think so. Will not this keep people from driving as much? That is what it does to me. I put so much in my budget and do not drive if it goes over. Food is also up. As one it is not so bad but with a family of say 4 it will start to hit hard along with gas. On top of all this, states are staring to go up on taxes or I should say towns. I love it when the Republicans get into office. Only the rich make out.

Although not as bad - around 2% on average. Looks like it'll be a fun day all around...

http://newsvote.bbc.co.uk/2/shared/fds/hi/business/market_data/stockmarket/default.stm