US markets
Traders work on the floor of the New York Stock Exchange (NYSE) on July 5, 2016 in New York City. Markets were down in morning trading as investors are still nervous over the financial effects of Brexit. Getty Images

US stocks closed down on 5 July, with the Dow Jones dropping more than 100 points amid renewed concerns over Brexit. Longer-end Treasury yields hit record lows following the extended Fourth of July weekend.

The Dow Jones Industrial Average fell 108.75 points, or 0.6%, to settle off a session low of 17,785 at 17,840.62. Goldman Sachs, down 2.65%, contributed the most to declines on the blue-chip gauge, according to CNBC.

The S&P 500 dropped 14.40 points, or 0.7%, to end off a session low of 2,080 at 2,088.55. Energy and materials led declines in the S&P, with financials furthering losses.

Meanwhile, the Nasdaq Composite shed 39.67 points, or 0.8%, to close at 4,822.90 after hitting a session low of 4,797. According to CNBC, Apple dropped 0.9% and the iShares Nasdaq Biotechnology ETF (IBB) fell 1%.

"It's an emotionally-driven trade. They aren't sure of the ramifications of Brexit so people are shooting first and then asking questions afterwards," explained Sahak Manuelian, managing director of equity trading at Wedbush Securities.

According to MarketWatch, 6.8 billion shares were traded on 5 July versus the daily average of 7.7 billion this year. Analysts noted that light trading along with nervous investors amplified the market's moves.

Long-end Treasury yields hit record lows, with the 10-year yield hitting an all-time low of 1.3570% and the 30-year yield near 2.15%. The US dollar index traded more than half a percent higher, with the euro near $1.107 and the yen near 101.7 yen against the greenback. The pound sterling dropped to 30-year lows at around $1.304.

"It's really just currency and yields. By watching currencies, watching yields, you get a pretty good sense of what's on investors' minds and right now it looks like slowing economic growth," Jack Ablin, chief investment officer at BMO Private Bank, told CNBC.

Overseas, European stocks closed mostly down. The FTSE 100 closed around a third of a percent higher, but the German DAX and the STOXX Europe 600 Banks index closed down 1.8% and 2.7%, respectively. In Asia, stocks closed mostly lower, with the Nikkei 225 down about two-thirds of a percent and the Hang Seng down almost 1.5%.

US crude oil futures for August delivery fell $2.39 (£1.84; €2.16), or 4.88%, at $46.60 (£35.79; €42.10) a barrel. Gold futures for August delivery, however, rose $19.70 (£15.13; €17.80) at $1,358.70 (£1,043.64; €1,227.37) an ounce.