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20th September 2021 Morning Report

Monday 20th September 2021

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U.S. share markets slipped Friday on the back of   a disappointing preliminary reading of the University of Michigan consumer sentiment index for September and as jittery investors awaited to this week’s Federal Reserve meeting which could pave the way for the central bank to begin tapering its asset purchases later this year. Stocks experienced heightened volatility, with the volatility index spiking more than 10%. Traders unloaded Treasuries, sending the yield on the 10-year note up 4 basis points to 1.37%, an almost two-month high. The Dow Jones Industrial Average declined 0.48%, while the S&P 500 index and Nasdaq Composite index slid 0.91% and 0.92%, respectively. Big Tech lagged, as growth companies came under pressure.

Other key foreign markets were mixed with European exchanges lower across the board with Germany's DAX 30 down 1.03%, Britain's FTSE 100 declining 0.91% and France's CAC 40 falling 0.79%. In Asia, Hong Kong’s Hang Seng index jumped 1.03%, Japan’s Nikkei 225 rose 0.58% and China’s Shanghai Composite closed marginally higher 0.19%. 

West Texas Intermediate crude oil declined 64 cents to $71.97 a barrel and gold slipped $5.20 to $1,749.40 an ounce.

Morning Report 20 September 2021

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