Asian stocks tumble after US jobs data hurt hopes of rate cut

Asian stocks tumble after US jobs data hurt hopes of rate cut

Asian stocks fell Monday after relatively strong US jobs data tempered hopes the Federal Reserve might cut interest rates. Benchmarks in Shanghai, Tokyo, Seoul and Hong Kong all declined. Friday’s stronger-than-expected data on June job raised questions about whether the Fed might still a rate cut is needed.

Timothy
Timothy
Miles O'Brien
Miles O'Brien 6 months

But Trump told the fed chair to cut rate.

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