April 7th Morning Report

The US markets closed sharply lower on Friday, confirming the Nasdaq Composite was in a bear market and the Dow Jones Industrial Average was in a correction, as an escalating global trade war spurred the biggest losses since the onset of the coronavirus crisis five years ago.

The Dow Jones Industrial Average down 5.50%, while the S&P 500 and Nasdaq Composite were down 5.97% and 5.82% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-4.95%), the Dax 30 (-4.95%), CAC 40 (-4.26%) and the STOXX (-4.60%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-2.75%), HSI (-1.52%) and the Shanghai Composite (-0.24%).

The yield on the US 10 - year note was at 4.00%, while the 2 - year note was at 3.644%. Oil was up to $62.65 per barrel, up 0.53%. The gold price was at US$3059.20 per ounce, up 0.78%. 

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