Asian stocks sink as rate jitters worsen ahead of US payrolls data

Investing.com-- Most Asian stocks fell on Friday, tracking overnight declines on Wall Street as hawkish signals from Federal Reserve officials, especially ahead of key payrolls data, spurred more uncertainty over U.S. interest rate cuts.

Fears of a worsening conflict in the Middle East- as Iran threatened military action against Israel- kept risk appetite largely subdued. Regional trading volumes were also muted on account of a Chinese market holiday. Asian stocks took a weak lead-in from Wall Street, as U.S. benchmarks fell more than 1% on Thursday after Fed officials warned that sticky inflation will delay any potential interest rate cuts this year. Anticipation ofThe Nikkei was hit with extended profit-taking after surging to record highs in March. The index has also struggled to make headway in April with increased uncertainty over the path of inflation and monetary policy in the country.

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