Traders on Wall Street panicked in the wake of fraud charges against Goldman Sachs, sending stocks and commodities tumbling.

The Securities & Exchange Commission's decision to charge Goldman with misleading investors stunned traders and triggered an immediate stock slide that then spread through other markets.

In commodities, gold fell 2% and oil declined almost 3%. In currency markets, the euro fell to $US1.3510 from $US1.3579 as investors piled out into the dollar. They also fled to the Japanese yen, sending the yen higher against the greenback.

The US Securities and Exchange Commission today opened an enquiry into Apple’s seemingly contradictory series of statements about its chief executive’s health – which have caused wild swings in the company’s share price.