Asian shares followed Wall Street lower Friday ahead of U.S. jobs data investors hope will persuade the Federal Reserve to ease off plans for more interest...
BEIJING — Asian shares followed Wall Street lower Friday ahead of U.S. jobs data investors hope will persuade the Federal Reserve to ease off plans for more interest rate hikes.
The Nikkei 225 NIK in Tokyo sank 0.8% and Hong Kong’s Hang Seng HSI tumbled 1.1%. Chinese markets were closed for a holiday. Investors were watching for Friday’s release of U.S. government data that are expected to show fewer people were hired compared with previous months. They hope that will help persuade the Fed five rate hikes this year are working and it can scale down plans for more.
On Wall Street, the S&P 500 SPX fell to 3,744.52. The index is up 4.4% for the week following its best two-day rally in 2 1/2 years. The yield on the 10-year Treasury, which helps set rates for mortgages, rose to 3.81% from 3.75% late Wednesday. The yield on the two-year Treasury rose to 4.22% from 4.14% late Monday.
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