Stocks drop as traders nervously await US jobs data

With the labour market still tight, investors are keeping a wary eye on US jobs data with a strong reading likely putting pressure on the Federal Reserve to hike interest rates further.WASHINGTON - Stock markets mostly retreated Thursday on the eve of US jobs data, which is being eagerly awaited in light of warnings from Federal Reserve boss Jerome Powell that interest rate hikes could be ramped up should the economy show no sign of slowing.

"In the space of a month, we've gone from a narrative that had rate cuts coming before the end of the year, to an imminent pause in the next couple of months, to how many more rate hikes can we now expect?"The"BoJ will meet for the last time under Governor Haruhiko Kuroda amid increasing speculation of a 'legacy' change to policy", said Stephen Innes of SPI Asset Management.

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Business Maverick: Asian stocks tumble on heightened rate-hike fears: markets wrapA gauge of Asian equities dropped more than 1% on Wednesday, led by heavy declines in technology stocks, after hawkish rhetoric from Federal Reserve chair Jerome Powell hurt appetite for risk taking.
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