Markets sink as jobs data fan hike bets

By Agence France-Presse

Oct 11, 2022 12:06 am

HONG KONG: Stocks tumbled on Monday as forecast-beating United States jobs data fueled expectations for another big Federal Reserve (Fed) interest rate hike, while traders are now focusing on an upcoming inflation report.

A brief rally across trading floors last week gave way to gloom as investors grew increasingly worried that central bank efforts to tame runaway prices would plunge the global economy into a recession.

A trader is seen on the floor of the New York Stock Exchange in New York City after the United States government released its latest employment data on Friday, Oct. 7, 2022. GETTY IMAGES PHOTO VIA AFP

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