Global markets paused after selloffs, concerns over US economy loom, potential interest rate cuts coming

From Yahoo Finance: 2024-09-05 00:42:00

Global markets paused after a week of selloffs, with concerns over the US economy looming. Wednesday’s labor data indicated a slowdown, prompting expectations of significant interest rate cuts by the Federal Reserve. Asian shares rose 0.4% on Thursday, recovering from losses, but the overall Asia-Pacific index remains down 2.2% for the week. The yen maintained its strength, supported by hawkish comments from the Bank of Japan. All eyes are on Friday’s US non-farm payrolls report, while Thursday brings US jobless claims data and Eurozone retail sales figures. Investors are closely watching for clues on potential interest rate cuts by the Fed. Economic events on Thursday include Eurozone retail sales and construction PMI data for Germany, France, and the Eurozone.



Read more at Yahoo Finance: Markets hit tentative pause on selloff