Last Updated: January 20th, 2009: 12:30 PM ET---The major US equity indices are trading with substantial losses midday, near session lows, as concerns regarding the global banking crisis flared on news from the UK. Monday, the Royal Bank of Scotland (NYSE:RBS) issued a warning saying it forecasts a loss of up to $41.3 billion for 2008 including writedowns. The UK government then announced it had raised its stake in RBS from 58% to 70%, furthering speculation that the bank would soon be nationalized. Shares of RBS lost more than 60% of their value in overseas trading Monday. Also sparking concern in the financial sector was Deutsche Bank (NYSE:DB), who warned of a quarterly loss of almost $6.5 billion. Despite announcing better-than-expected results, State Street (NYSE:STT) shares tumbled more than 50% after issuing flat guidance for 2009 that disappointed investors. Johnson & Johnson (NYSE:JNJ) also reported quarterly earnings this morning that beat estimates, printing at 97 cents per share, or $2.7 billion, versus 82 cents per share, or $24 billion during the year-ago period. The company provided 2009 guidance of $4.45-$4.55 on a per share basis. Mexican mogul Carlos Slim, the second wealthiest man in the world, could be the largest shareholder of The New York Times (NYSE:NYT) after announcing a $250 million investment. Light sweet crude for February delivery rose more than $2 a barrel following a report from Goldman Sachs (NYSE:GS) that said the commodity may stage a "swift and violent rebound" to $65 per barrel during 2009's second half. At the time of this report, the Dow Jones Industrial Average is down 192 points to 8,096, the S&P 500 is trading 25 points lower to 825 and the Nasdaq is trading 50 points lower to 1,480.

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