August 23rd Morning Report

US markets closed lower on Monday as investors fretted about a US Federal Reserve gathering later this week in Jackson Hole, Wyoming, that is expected to reinforce a strong commitment by the central bank to stamp out inflation. The Dow Jones Industrial Average closed down 1.91%, while the S&P 500 and Nasdaq Composite were down 2.14% and down 2.55% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.22%), the Dax 30 (-2.32%), CAC 40 (-1.80%) and the STOXX (-1.93%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-0.47%), HSI (-0.59%) and the Shanghai Composite (+0.61%).

The yield on the US 10 - year note was at 3.024%, while the 2 - year note was at 3.316%. Oil was up to $90.67 per barrel, down 0.11%. The gold price was at US$1748.10 per ounce, down 0.84%. 

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