US Close 6 Dec 18: US markets closed for a national day of mourning

 US sharemarkets were closed for the day of mourning for former President George HW Bush. On Tuesday the Dow Jones was down by 799 points or 3.1% after being down 818 points near the close. The S&P500 index was lower by 3.2% and the Nasdaq index was down by 283 points or 3.8%.

European sharemarkets were weaker again on Wednesday led by construction and mining sectors. Investors focussed on US-China trade issues and the outlook for the US economy given the flat yield curve. In the past a flat yield curve has signalled weaker economic conditions or even recession. Reuters noted that German carmakers slightly outperformed the broader DAX share index "as investors digested what seemed a relatively positive outcome from a meeting of auto executives at the White House." The pan-European STOXX600 index fell by 1.2%. The German Dax index fell by 1.2% and the UK FTSE index lost 1.4%. In London trade, shares of Rio Tinto lost 2.0% and shares in BHP fell 2.1%.

 

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