The Japanese yen crosses are under quite a bit of pressure, and stock market futures are trading in negative territory, following disappointing Q1 results from Morgan Stanley, which reported a net loss of $190 million, or 57 cents a share, compared with a net income of $1.43 billion a year ago. Furthermore, the International Monetary Fund (IMF) released deeply pessimistic outlooks for global growth. We've highlighted some of these revisions below:
Full IMF Report can be viewed here.

** Oil is an average of the spot prices of U.K. Brent, Dubai and West Texas Intermediate crude oil. The average price of oil in U.S. dollars a barrel was $71.13 in 2007; $97.03 in 2008; the assumed price on future markets is
$52.00 in 2009 and $62.50 in 2010.