Weaker-than-expected U.S. jobs data has sent global markets into a tailspin. U.S., European and Asian markets have fallen by more than 3 percent over the past two days. The two-year U.S. Treasury yield has fallen by 15 basis points, and oil prices have also fallen.
In July, the world’s largest economy, the U.S., added just 114,000 jobs, falling short of Wall Street’s forecast of 175,000. The data has fueled concerns about a hard landing in the U.S. and that the Federal Reserve is lagging behind in preventing a recession.
Indian markets also fell more sharply
First print: Aug 05, 2024 | 12:05 AM IST