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Market Turmoil: Asian and US Stocks Stumble Amid Economic ...
2024-09-09 05:50:08
Markets
Stocks
Economy

Market Turmoil: Asian and US Stocks Stumble Amid Economic Concerns

Asian markets faltered following Wall Street's worst week in 18 months, triggered by the U.S. jobs report and fears over the Federal Reserve's rate policies. Tech giants like Broadcom and Nvidia dragged down the Nasdaq, while rising oil prices added to the turmoil.

The jittery market sentiment spreads as Chinese stocks face downgrades and Hong Kong's stocks hit a three-week low, amplifying concerns over global growth. Amidst the market turbulence, uncertainties loom over the US economy, tech shares, and the effectiveness of stimulus measures in China.

Investors navigate volatile waters as they scrutinize economic data, earnings reports, and central bank actions for signs of stability amidst the prevailing market uncertainty.

Related news on that topic:

Market Turmoil: Global Concerns Drive Selloff

Asian markets are on edge mirroring Wall Street's decline, spurred by worries over U.S. economic prospects and policy decisions. China's upcoming inflation data, Japan's GDP revision, and Taiwan's trade numbers are under scrutiny alongside caution from foreign investors towards Asian equities, particularly Chinese stocks at a low. Falling oil and commodity prices reflect escalating unease about the global economic landscape. Yi Gang, former central bank governor, advocates for aggressive fiscal and monetary measures in China to counter deflation. Traders are focused on job market trends over CPI, anticipating heightened volatility after S&P 500's recent sharp decline in anticipation of the crucial August jobs report impacting Fed decisions.

Market Fluctuations: Soft Jobs Data Impact Stock Futures

US stock futures dip as weak labor figures fuel recession concerns and rate cut speculation. Nasdaq and Dow futures slide ahead of crucial job report. AI sector trends under scrutiny post-C3.ai and HPE stock movements. International markets await US employment data with uncertainty. Oil prices and bond yields react as investors anticipate Fed's next moves. Notable stock movements include Boeing's decline and Unity Software's surge.

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Hong Kong's Hang Seng Index, Tech Index fell 1.7%, 1.5% as of 10:10am; Shanghai Composite lost 0.7%; weak China inflation, with CPI up 0.6% and PPI down 1.8%; Alibaba, JD.com, Tencent declined; mainland developers Longfor, China Resources Land fell; export growth to slow, import growth to plunge.
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