US mkts slip; Dow closes below 8k for 4th consecutive day and Asian markets trading mixed; Shanghai Composite up 2%

In the US markets, stocks fell sharply in the final minutes of trading led by financials. It was the Dow's fourth consecutive close below 8,000 and its longest sub-8,000 streak since March 2003.

The US House of Representatives has passed the 787 billion dollar economic-stimulus bill in a 246 to 183 vote yesterday with no Republican party support, before closing of trading.

The Dow Jones Industrial Average fell 82.35, or 1.04 percent, to 7,850.41. Among broader indices, the Standard & Poor's 500 Index lost 1% or 8.35 points, to 826.84, and the Nasdaq composite Index declined 7.35 points, or 0.48%, to 1,534.36. The S&P 500 lost 4.8% and the Nasdaq fell 3.6% this week while the Dow Jones finished the week with a loss of 5.2%.

Citi & JPMorgan have announced temporary moratorium on home loan foreclosures. Consumer sentiment in January fell much more- than-expected.

Treasury prices declined on Friday. US Dollar ended mixed against other major currencies.

Among commodities, crude prices ended above $37 a barrel while gold slipped.

US markets will be closed on Monday for President's Day holiday.