European indices close sharply lower and down for the week

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As London/European traders look for the exits, the major indices are closing sharply lower. The tariff news and threats of global slowdown (highlighted by the US jobs report) helped to push prices lower. A snapshot of the closing levels shows:German DAX, -639.50 points or -2.66% at 23425.98.France's CAC, -225.80 point or -2.91% at 7546.17.UK's FTSE 100 -64.21 points or -0.70% and 9068.59.Spain's Ibex -270.30 points or -1.88% at 14126.71.Italy's FTSE MIB -1044.87 points -2.55% at 39942.81.For the trading week:German DAX -3.27% (it's worse week since the end of March).France's CAC, -3.68% (worse week since and of March).UK's FTSE 100 -0.57%Spain's Ibex, -0.78%Italy's FTSE MIB -1.92%The European benchmark 10 year yields are mostly lower to end the trading day:Switzerland: 0.338% ▼ 2.1 bps (−5.85%)UK: 4.525% ▼ 4.7 bps (−1.03%)Germany: 2.677% ▼ 2.1 bps (−0.78%)Spain: 3.265% ▼ 0.7 bps (−0.21%)France: 3.348% ▼ 0.5 bps (−0.15%)Italy: 3.541% ▲ 0.9 bps (+0.25%)A snapshot of the US markets show the major indices still in deep negative territory, but off the lows:Dow industrial average -428 points or -0.97% at 43705.S&P index -73.56 points or -1.16% at 6266.25.NASDAQ index -345 points or -1.63% at 20779.Russell 2000-33.43 points or -1.51% at 2178.21.US yields are sharply lower as the market now prices in a near 90% chance of a September rate cut (from 45% prior to the US jobs report): 2-year yield 3.730%, -22 basis points5-year yield 3.796%, -16.3 basis points.10 year yield 4.237%, -12.2 basis points30 year yield 4.814%, -7.1 basis pointsThe benchmark 10-year yield is at its lowest level since July 1 one the yield fell to 4.187%.In commodities:Crude oil is trading down $1.77 at $67.43. The price is now below its 200 day moving average at $67.98.Gold is up $52 or 1.6% at $3342. The price of gold is now up 0.21% this week after trading down for most of the week.Silver is up $0.14 at $36.85.Copper which fell over 20% yesterday is currently up 1.61% at $4.42.Bitcoin is down $-200 at $115,542. This article was written by Greg Michalowski at investinglive.com.