December 20th Morning Report

US markets closed lower on Monday with Nasdaq leading declines as investors worried the Federal Reserve's monetary policy tightening campaign could push the US economy into a recession. The Dow Jones Industrial Average closed down 1.01%, while the S&P 500 and Nasdaq Composite were down 1.33% and 1.76% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.40%), the Dax 30 (+0.36), CAC 40 (+0.32%) and the STOXX (+0.19%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-1.05%), HSI (-0.50%) and the Shanghai Composite (-1.92%).

The yield on the US 10 - year note was at 3.583%, while the 2 - year note was at 4.262%. Oil was down to $75.25 per barrel, up 1.29%. The gold price was at US$1795.90 per ounce, down 0.24%. 

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