In European Equity Markets indices closed lower Monday, having spent the day see-sawing above and below the flat line thanks to investor jitters over world trade. The basic resources sector fell by 1.6 percent on the back of trade uncertainty. Europe’s chemicals stocks were also among the worst performers, down around 1.4 percent amid merger and acquisition news. Linde fell 9 percent on reports the U.S. Federal Trade Commission (FTC) could demand further concessions in the German industrial gases company’s merger with European peer Praxair.

In Currency Markets the US dollar rose on Monday, building on two consecutive weeks of gains, as investors bet that trade war rhetoric and a strong U.S. economy would continue to boost the greenback. The euro fell to a five-week low of $1.1527 as German industrial orders fell more than expected in June, posting their steepest monthly fell  in nearly a year and a half. The single currency was last down 0.1 percent at $1.1555. Britain’s pound fell to an 11-month low on comments by officials about a no-deal Brexit.

In Commodities Markets oil rose on Monday after Saudi crude production unexpectedly fell in July and U.S. drilling appeared to slow, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel. Markets also anticipated an announcement from Washington later on Monday on renewed U.S. sanctions against major oil exporter Iran. Brent crude oil futures were up by 33 cents from their previous close at $73.54 a barrel, while U.S. futures gained 57 cents to trade at $69.06 barrel.

In US Equity Markets stock indexes were little changed on Monday as investors weighed an escalating trade dispute between the United States and China, and a mixed bag of corporate results. Berkshire Hathaway Inc rose 3.6 percent after the Warren Buffett-led conglomerate reported a 67 percent jump in quarterly operating profit. The S&P 500 was up flat at 2,841.04 and the Nasdaq Composite was up 0.10 percent, at 7,816.86. PepsiCo rose 1.3 percent after the company said Chief Executive Officer Indra Nooyi would step down in October.

In Bond Markets U.S. Treasury yields fell on Monday, with the 10-year yield holding below 3 percent on moderate buying, in advance of this week’s August refunding where the government will sell $78 billion in coupon-bearing securities. This week’s debt sales are expected to refund $38.2 billion investors on maturing debt and to raise $39.8 billion in new cash for the government. The benchmark 10-year Treasury yield fell nearly 2 basis points to 2.934 percent. U.S. two-year yield was at 2.645 percent, hovering at its highest in 10 years.