Morning markets: US reports light trading volumes as investors turn defensive

America's largest stock markets reported very light trading volumes on Monday as a flurry of M&A did little to reassure investors of the strength of the global recovery.

The Dow Jones closed 0.38% down at 10,174, while the S&P 500 was down 0.4% at 1,067, and the Nasdaq saw a 0.92% fall to 2,159. Several high profile deals involving bids from Hewlett Packard and Dell, and BHP Billiton, were not enough to support the markets. Asian stocks fell on investor uncertainty, with the Nikkei in particular suffering as it closed at 8,995, down 1.33% and a 15-month low. The Hang Seng fell 0.91%, but the Shanghai index rose 0.41%. The moves were most likely a result of the strength of the yen, which hit a nine-year high against the euro today. Fears from foreig...