(Bloomberg) -- Stocks in Asia were poised for losses after US benchmarks posted their worst day since the Aug. 5 market meltdown, with concerns about growth ...
-- Stocks in Asia were poised for losses after US benchmarks posted their worst day since the Aug. 5 market meltdown, with concerns about growth and monetary policy combining to torch risky assets.Equity futures were down across Australia, Hong Kong and Japan, pointing to losses of 3% in the Tokyo bourse. US contracts edged lower in early trading after the S&P 500 fell more than 2%, with Nvidia Corp. driving a plunge in tech stocks.
Traders are anticipating the Fed will reduce rates by more than two full percentage points over the next 12 months — the steepest drop outside of a downturn since the 1980s. The trepidation after the latest rise in unemployment will leave traders “on edge” until Friday’s payrolls data, said Ian Lyngen and Vail Hartman at BMO Capital Markets.
Marking the start of a busy week for economic data, a report showed US manufacturing activity shrank in August for a fifth month. While above the modest 114,000 gain in July, average payrolls growth over the most recent three months would ease to a little more than 150,000 — the smallest since the start of 2021. The jobless rate probably edged down in August, to 4.2% from 4.3%.
Nasdaq 100 Basis Points Monetary Policy Federal Reserve
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Worst of market selloff might be over but hold on tight, Goldman saysAfter a turbulent week in global markets, the worst of the selloff might be over but investors need to 'keep the reins tight on big directional bets for now,...
Read more »
Tech leads Asia stock selloff, yen gains in volatile week for marketsTech shares led a selloff in stock markets around Asia, while the yen and U.S. bonds rebounded, as global investors struggled to find their footing in a wild...
Read more »
Analysis-Financing conditions pass global selloff test, so farA tumultuous sell-off in financial markets this month has barely scathed global financing conditions, but the risk of further volatility means borrowers are ...
Read more »
Temasek Spent Billions on US Tech Stocks Before July Selloff(Bloomberg) -- Singaporean state-owned investor Temasek Holdings Pte. spent billions of dollars in the second quarter buying shares in US technology giants, ...
Read more »
S&P 500 ends up, near flat for week after Monday's steep selloffThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Brutal Selloff Skims Froth From Japan’s $6 Trillion Stock Market(Bloomberg) -- Japanese equities shed $1.1 trillion in value as they kicked off August with a record three-day loss. For bullish investors, that’s providing ...
Read more »