Global stocks sink after US jobs data fan rate hike fears

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Feb. 6, 2023. Asian stock markets sank Monday after strong U.S. jobs data fanned fears of more interest rate hikes to cool inflation. – Global stock markets and Wall Street futures sank Monday after strong U.S. jobs data fanned fears of more interest rate hikes to cool inflation.

In early trading, the FTSE 100 in London lost 0.6% to 7,853.34. The DAX in Frankfurt shed 0.8% to 15,359.20 and the CAC 40 in Paris tumbled 0.9% to 7,171.77. Average hourly wages were 4.4% higher in January than a year earlier. That was lower than December’s 4.8% raise but above expectations. Central bankers worry wage growth may push up consumer prices.

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