The drop in commodity prices drove global markets lower - Monday Review, August 9

The drop in commodity prices drove global markets lower - Monday Review, August 9

Energy stocks slumped, but financials kept losses in check

The US

Wall Street closed in a mixed fashion as investors weight up a slip in energy against gains in financials just as the infrastructure bill is nearing passage through Congress.

USA30 declined 0.30%, while USA500 traded 0.09% lower. TECH100 gained 0.06%.

Crude oil fell 2.12% to $66.83 per barrel.

Gold was down 1.80% to $1731.35 a troy ounce.

The Dollar Index was up 0.20% at 92.983.

Asia and Australia

Most markets were up on Monday, as the latest US jobs report continued to fuel rumors that the country’s federal reserve will begin asset tampering sooner than expected. HongKong45 inched down 0.08%.

Down under, Australia200 was up 0.28%.

The Japanese markets were closed in observance of Mountain Day.

USD/JPY rose 0.10% to 110.36.

Europe

Stocks saw a lackluster start to the week, as oil prices weakness drove losses for major energy companies. Germany30 fell 0.10%, while France40 traded 0.06% lower. UK100 declined the most in Europe – 0.2%.

Brent oil lost 2.02%, reaching $69.27 a barrel.

EUR/USD was down 0.20% to 1.1737.

Sources: investing.com, marketwatch.com

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