US futures fluctuated in Asian trading after the S&P 500 saw its fourth straight decline. A rebound in Chinese equities, led by Hong Kong-listed technology companies, helped offset the broader drop.
The MSCI World Index was on track to end the week down more than 3%. Japanese shares fell on Friday as investors played catchup after Thursday’s holiday. Treasuries held moves from the US session that saw a key segment of the yield curve reach new extremes of inversion, touching a level not seen since the 1980s when the Fed was aggressively tightening. Such
have a track record of preceding economic downturns, which is adding to market jitters before US jobs data later on Friday.“That pivot is obviously going to happen,” Steve Brice, chief investment officer of wealth management at Standard Chartered Bank, said of Fed policy. “But we’re probably still some way from them actually moving from a tightening bias to an easing bias. We’re going to have to just live with that tightening policy for a while longer,” he said on Bloomberg Television.
Apple shares tumbled over 4% and Amazon.com suffered its longest slide since 2019 as tech dragged on the US market. In corporate news,