December 16th Morning Report

US markets closed lower on Thursday, with both the Dow and S&P 500 poised for their biggest daily percentage drop in three months, as concerns mounted that the Federal Reserve's battle against inflation using aggressive interest rate hikes could lead to a recession. The Dow Jones Industrial Average closed down 2.33%, while the S&P 500 and Nasdaq Composite were down 2.49% and 3.13% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-0.93%), the Dax 30 (-3.28), CAC 40 (-3.09%) and the STOXX (-3.51%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-0.37%), HSI (-1.55%) and the Shanghai Composite (-0.25%).

The yield on the US 10 - year note was at 3.446%, while the 2 - year note was at 4.247%. Oil was down to $76.15 per barrel, up 1.46%. The gold price was at US$1788.30 per ounce, down 1.67%. 

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