Stocks and the U.S. dollar tumbled on Monday as Lehman Brothers was expected to file for bankruptcy, leading to grave uncertainties about other banks and shaken confidence in the financial system, and sending safe-haven Treasury debt and gold prices soaring.
U.S. stock market futures were down more than 3 percent, pointing to sharply lower open, while major European markets were set for falls of between 2 and 3.2 percent, according to one financial spread-betting firm.
The dollar plunged 2 percent against the yen, on track for its biggest daily fall in more than six years, as U.S. investment bank Lehman Brothers looked set on a path to bankruptcy in a massive blow to investors' willingness to take risks
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