June 8th Morning Report

The US market closed lower on Friday as red-hot technology stocks suffered their largest daily decline since April 2025 after a hot May jobs report fueled fears of a hawkish policy pivot from the US Federal Reserve. 

The Dow Jones Industrial Average down 1.35%, while the S&P 500 and Nasdaq Composite were down 2.64% and 4.18% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (+0.07%), the Dax 30 (-0.75%), CAC 40 (-0.32%) and the STOXX (-0.68%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-1.31%), HSI (-1.15%) and the Shanghai Composite (-0.74%).

The yield on the US 10 - year note was at 4.532%, while the 2 - year note was at 4.147%. Oil was down to $90.54 per barrel, down 2.69%. The gold price was at US$4365.30 per ounce, down 3.10%. 

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