continued ...last topic...good news at the last sentence

Russia's RTS stock market closed down 19.10 percent in its worst fall in history. Indonesian shares fell more than 10 percent and trading in Brazil's stock market was suspended after massive declines of 15 percent, before the index pared its loss to 5.43 percent.

The London FTSE 100 index of leading shares fell 7.86 while in Paris the CAC 40 index shed 9.04 percent, its heaviest one-day loss since its creation in 1988.

The Frankfurt DAX lost 7.07 percent. In Dublin the Irish stock exchange's main ISEQ index ended with a loss of 9.59 percent, with banks taking the hardest hit.

European governments appeared divided on whether guaranteeing all deposits was the best way to safeguard confidence, and the EU commission called on member states for better coordination.

Denmark, Portugal and Iceland guaranteed deposits, emulating Germany on Sunday and Ireland and Greece last week, adding pressure on other European governments to follow suit.

British Prime Minister Gordon Brown called a meeting of his "economic war cabinet." Finance minister Alistair Darling said the government would consider extending insurance guarantees.

Amid the turbulence, the euro fell to a 14-month low of 1.3441 dollars. Oil prices slipped below 90 dollars a barrel( note: it was 147 in July)