Global stocks down after strong U.S. jobs data

London and Frankfurt opened lower. Shanghai, Tokyo and Hong Kong declined. Oil prices lost more than US$1 per barrel.

In early trading, the FTSE 100 in London fell 0.6% to 7,319.62 and the DAX in Frankfurt shed 0.4% to 12,913.41. The CAC 40 in Paris fell 0.5% to 6,178.78. In Asia, the Shanghai Composite Index fell 0.8% to 3,202.14 after an index of manufacturing showed activity contracted again in August. The Hang Seng ended up less than 0.1% at 19,954.39 after spending most of the day in negative territory.

Sydney's S&P-ASX 200 shed 0.2% to 6,986.80. New Zealand advanced while Singapore and Indonesia declined. Indian markets were closed for a holiday. "If the labor market doesn't break and the consumer remains resilient, Wall Street might start pricing in rate hikes for February and March," Moya wrote.

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Global stocks up as traders digest U.S. Fed anti-inflation pledgeGlobal stocks and Wall Street futures rebounded Tuesday as investors digested last week's Federal Reserve pledge to fight inflation by keeping interest rates elevated.
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