I just had a look at the MySQL manual, and him say:
1.8.3 Things That Must be Done in the Near Future
Atomic multi-table updates:
UPDATE items,month SET items.price=month.price
WHERE items.id=month.id;
So for now you're going to have to use a loop. It also says that subqueries will be available in version 4.1... when
UPDATE CD_info SET stock_level=stock_level-5 WHERE CD_id IN (SELECT product_ID FROM cart)
Will be the answer.