The Dow Jones Industrial Average (INDEXDJX: DJI) or DJIA closed at 26,469.89 (-0.68% DoD)
Standard and Poor or S&P 500 closed at 3,215.63 (-0.62% DoD)
The MSCI Europe closed at 122.01 (-1.69% DoD)
The MSCI APxJ closed at 542.17 (-1.78% DoD)
Technology shares on US equities were heavily affected due to escalating US-China tensions contributing to its dropped since mid-May. European equities were also negatively affected as Beijing ordered the closure of the US consulate in Chengdu following the US moved in closing the Chinese consulate in Houston. Asian equities drop pulled by US-China tensions as China stands not to close the Houston consulate and will continue to open until further notice. Moreover, the continued holiday in Japan resulted in low volume and the increasing cases of Covid-19.
US Treasury yields were mixed as investors positioned ahead of the looming Federal Open Market Committee (FOMC) meeting and potential coronavirus stimulus. On average, US Treasury yields rose by 17 bps DoD, with the 2Y ending at 0.1473% (-0.40 bps) and the 10Y closing at 0.5888% (+1.14 bps).