Salerio and Solanio meet in the street and discuss the hasty departure of Bassanio and Graziano for Belmont. They further tell the audience that Shylock returned home and discovered his daughter had run away with Lorenzo. Shylock then woke up the Duke of Venice and tried to stop Bassanio's ship, which had already set sail. Antonio assured Shylock that Jessica was not on board the ship, but rather had been seen in a gondola with Lorenzo. However, Shylock continues to blame Antonio for the loss of his daughter and his money.

Solanio informs Salerio that Shylock was later seen in the streets crying,

"My daughter! O, my ducats! O, my daughter!

Fled with a Christian! O, my Christian ducats!

Justice! The law! My ducats and my daughter!

A sealed bag, two sealed bags of ducats,"

Solanio is worried about Antonio, whom he says had better repay his bond with Shylock on time, because Shylock is furious about losing his daughter and his money and blames Antonio for it. Salerio indicates that a Frenchman mentioned a Venetian vessel had sunk in the English Channel the day before. Both men hope that it is not Antonio's ship.