Asian Stocks Drop as Oil Spike Fans Rate Hike Bets, Eyes on US Jobs
Hong Kong fell more than 2% as oil prices climbed and traders priced in more central bank tightening before US payroll data.
6 Articles
6 Articles
Asian stocks drop as oil spike fans rate hike bets, eyes on US jobs
Yields on US Treasuries and government debt in many other major economies spiked Thursday amid fears that the surging cost of energy caused by the Middle East crisis will force central banks to ramp up borrowing costs well into next year. And while they eased back in early business Friday, angst continues to flow across trading floors, compounded by fresh worries of another flare-up in the US-Iran war. Both main crude contracts edged up to exten…
Asian stock markets opened mostly lower as investors worried about rising oil prices adding to inflationary pressure after China suspended oil product exports in October. Tensions in the Middle East also escalated, and investors are watching for tonight's U.S. non-farm payroll data. The post Asian Stocks Open Lower! Rising Oil Pressures Inflation, U.S. Jobs to Watch Tonight appeared first on Business Online Stock News.
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