August 21st Morning Report

The US Market closed lower on Wednesday, driven by tech stocks, with worries about AI spurring debates about its future. The Nasdaq Composite dropped 2.2% over the last two days, the worst two-day fall since August 1st.

The Dow Jones Industrial Average up 0.04%, while the S&P 500 and Nasdaq Composite were down 0.24% and 0.76% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (+1.08%), the Dax 30 (-0.60%), CAC 40 (-0.08%) and the STOXX (-0.20%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-1.51%), HSI (+0.17%) and the Shanghai Composite (-0.02%).

The yield on the US 10 - year note was at 4.291%, while the 2 - year note was at 3.752%. Oil was up to $62.86 per barrel, up 1.86%. The gold price was at US$3391.80 per ounce, up 0.99%. 

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