Stocks fall globally after U.S. jobs data, Treasury yields rise again

  • 2/5/2023
  • 09:58
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New York, Muharram 25, 1440, Oct 5, 2018, SPA -- Major world stock markets sank for a second straight day on Friday after strong U.S. jobs numbers signaled a continued tightening of the labor market and increased inflation pressures, while Treasury yields rose again to multi-year highs. The increase in U.S. non-farm payrolls slowed in September, likely from Hurricane Florence's impact on restaurant and retail payrolls, but the Labor Department report also showed a rise in wages that could keep the Federal Reserve on track for more interest rate hikes. The Dow Jones Industrial Average fell 180.43 points, or 0.68 percent, to 26,447.05, the S&P 500 lost 16.04 points, or 0.55 percent, to 2,885.57. The Nasdaq Composite dropped 91.06 points, or 1.16 percent, to 7,788.45, marking its first weekly percentage decline since march. The pan-European FTS Eurofirst 300 index lost 0.86 percent and MSCI's gauge of stocks across the globe shed 0.67 percent. A steep sell-off in U.S. Treasury bonds that started midweek and pushed 10-year yields to seven-year highs has weighed on stocks and rippled through bond markets globally. --More 23:59 LOCAL TIME 20:59 GMT 0022 www.spa.gov.sa/w761393

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