Asian stocks fell due to French election outcome, U.S. stocks rose, euro dropped.

From Yahoo Finance: 2024-07-08 00:26:00

Asian stocks fell due to the shock French election outcome, with U.S. stocks rising to new records boosted by a report on the job market. The euro climbed above $1.08, but gains were tempered by the surprising French parliamentary election results. Left-wing New Popular Front won the most seats, creating concerns of political and policy uncertainty. U.S. futures and oil prices declined. In Tokyo, the Nikkei 225 index rose despite data showing real wages fell 1.4% year on year. Treasury yields sank after the U.S. jobs report, reinforcing belief on Wall Street that the U.S. economy’s growth is slowing. The Federal Reserve is expected to cut interest rates later this year.



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