April 4th Morning Report

The US markets closed sharply lower on Thursday, with the bloodbath engulfing megacap technology names and small companies alike, as President Donald Trump's sweeping tariffs on major US trade partners ignited fears of an all-out trade war and a global economic recession.

The Dow Jones Industrial Average down 3.98%, while the S&P 500 and Nasdaq Composite were down 5.97% and 4.84% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-1.55%), the Dax 30 (-3.01%), CAC 40 (-3.31%) and the STOXX (-3.59%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-2.77%), HSI (-1.52%) and the Shanghai Composite (-0.24%).

The yield on the US 10 - year note was at 4.038%, while the 2 - year note was at 3.696%. Oil was up to $61.65 per barrel, down 7.54%. The gold price was at US$3092.92 per ounce, down 1.19%. 

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