(WS) World Summary: EQUITIES TUMBLE AS OIL POSTS FRESH PEAK.

(From RWE)

Sydney - Saturday - Oct 23: (RWE Australian Business News) - US equities tumbled again overnight as pressure on financial markets increased with another record advance in the oil price. Investors showed their concern after crude oil climbed above $55 barrel and looked set to go higher on reports that the Chinese economy has been better than expected in the last quarter, lifting its demand for current available crude stocks. Wall Street's Dow finished 108 points lower while the S&P 500 dropped 11, the Nasdaq composite 38 and 100 index 37. The key barometer produced its third weekly loss but the Nasdaq finished in front for the five trading days despite the latest session deficit. Investors also faced two disappointing sales forecasts from leading technology stocks, Microsoft Corp. and Broadcom Corp. The good profit from Google Inc., was yesterday's news. The US stockmarket is still nervous and unsettled ahead of the Presidential election in two weeks with many …