Asian stocks fell overnight after another rout hit Wall Street on Friday.
The Nikkei (^N225) fell 0.5% on the day in Tokyo, trading around its lowest level in almost a month earlier in the session, as Japan’s gross domestic product grew by 2.9% in the second quarter compared to the previous three months,
This was according to revised data from the Cabinet Office, which was below expectations.
Meanwhile the Hang Seng (^HSI) lost 1.7% in Hong Kong and the Shanghai Composite (000001.SS) was 1.1% down by the end of the session after worse-than-expected inflation data disappointed investors.
Data from the National Bureau of Statistics on Monday showed deflationary pressure continues to loom large, as the consumer price index grew by 0.6% in the year to August.
It came after highly anticipated jobs market data came in weak enough to add to worries about the US economy on Friday. It revived fears that months of elevated borrowing costs are putting pressure on the economy.
Across the pond, the S&P 500 rose 0.5%, and the tech-heavy Nasdaq was 0.7% higher. The Dow Jones also gained 0.5%.
The S&P 500 (^GSPC) fell 1.7% to 5,408.42 and the Dow Jones (^DJI) slipped 1% to 40,345.41. The tech-heavy Nasdaq (^IXIC) ended 2.6% lower to 16,690.83.
Despite Florida seeing a spike in resignations from June to July, the state has seen a larger drop in workers quitting from the first half of 2023 to 2024.In Ju
Barrons senior writer Megan Leonhardt reacts to the U.S. economy adding 818,000 fewer jobs than initially reported on Cavuto: Coast to Coast. Federal Reser
There are two things in life that'll bring you down to size: dating in New York City and applying for a job in 2024. The fictional Carrie Bradshaw said it best:
The jobs-to-be-done theory has implications for K-12 career education. Young people need information and advice from K-12 schools on practical pathways to caree