Asian Stocks Set to Drop After Jobs Data, Fedspeak: Markets Wrap

-- Asian stocks are set to drop after mixed US jobs data and a noncommittal Federal Reserve added to concerns the central bank may have waited too long to cut interest rates.Equity futures in Australia, Japan and China point to steep losses in early trading. US equity futures edged lower after the S&P 500 fell 1.7% on Friday. The dollar was steady against major peers as traders priced in a roughly one-quarter chance of a 50-basis point Federal Reserve rate cut.

September is proving a volatile month for markets as global stocks and commodities slumped amid fears of tepid global growth. More unease is likely as Chinese inflation and producer prices data later Monday may highlight the economic malaise that policymakers are struggling to counter. The People’s Bank of China kept its buying of gold on hold a fourth month in August, a further sign that prices near record highs are crimping global central bank demand.

Bryce Young threw an interception on the Panthers’ first offensive play and it got no better after that, as Carolina lost 47-10 to New Orleans in the Week 1 opener.Jannik Sinner beats Taylor Fritz in the US Open men's final just weeks after his doping exoneration

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