US jobs data are closely watched for an insight into the state of the economyWASHINGTON - Stock markets fell on Friday after strong US jobs data raised concerns that the US Federal Reserve may continue to aggressively hike interest rates to tame inflation.
Strong job gains raise concerns among investors, as a healthy economy could convince the Fed it still has room to deliver more sharp rate increases to fight inflation. The focus was also on OPEC+, which may decide Sunday to slash oil production further to boost prices for its members, which include Saudi Arabia and Russia.
The EU has decided to ban member states from buying Russian oil exported by sea from Monday,"putting at risk over two million barrels per day," according to estimates by ANZ analysts.
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Business Maverick: Asia stocks set for mixed open with jobs in focus: markets wrapStocks fell in Asia after US equities struggled for direction, with traders awaiting a jobs report later on Friday for clues on the Federal Reserve’s next policy steps.
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