August 6th Morning Report

US markets ended sharply lower on Monday, as US recession worries shook global markets and drove investors out of risky assets, while Apple shares dropped as Berkshire Hathaway cut its stake in the company. The recession concerns followed weak economic data last week, including Friday's soft US payrolls report.

The Dow Jones Industrial Average closed down 2.60%, while the S&P 500 and Nasdaq Composite were down 3.00% and 3.43% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-2.04%), the Dax 30 (-1.82%), CAC 40 (-1.42%) and the STOXX (-1.42%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-12.40%), HSI (-1.46%) and the Shanghai Composite (-1.54%).

The yield on the US 10 - year note was at 3.792%, while the 2 - year note was at 3.924%. Oil was up to $73.78 per barrel, up 0.35%. The gold price was at US$2447.50 per ounce, down 0.90%. 

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