![]() Traders were keeping tabs on China-US relations after the shooting down of the giant balloon at the weekend. ![]() However, there were gains in Tokyo and Singapore. The losses continued in Asia, with Hong Kong sinking 1.9 per cent, while Shanghai, Sydney, Seoul, Taipei, Manila and Jakarta were also down. Traders now expect the Fed to keep pushing rates up to more than 5 per cent before stopping.Īnd San Francisco Fed chief Mary Daly said she was prepared to keep hiking, while rates would also remain elevated for some time.Īll three main indexes sank on Wall Street, with the Nasdaq down more than 1 per cent as tech firms took a hit after disappointing earnings from giants Amazon, Alphabet and Apple. "There are of course other data points that are going to come before the next meeting, but it certainly puts a placeholder that the labour market continues to run some risk of being extremely tight." "We are concerned that on the back of this kind of jobs report, it definitely holds the Fed to a higher-for-longer path," said Lisa Erickson at US Bank Wealth Management. The reading showed the world's biggest economy remained strong despite almost a year of rate hikes and soaring prices, indicating the Fed still had plenty of work to do to rein in inflation. Government figures also showed unemployment fell to the lowest level since 1969. The rally enjoyed through January has come to a halt this month as investors contemplate an extended period of high borrowing costs aimed at bringing inflation down from multi-decade highs.Ī softer tone from the Fed regarding its monetary tightening campaign had allowed market participants to entertain the possibility of a pause, or even a cut, later in the year.īut that optimism was dealt a heavy blow Friday by data showing more than half a million new jobs were created in the United States last month, nearly double the December figure and far more than the 188,000 expected. More details on software and accessibility are available at KONG: Asian markets mostly fell Monday (Feb 6) and the dollar extended gains after a forecast-busting US jobs report fanned expectations of more Federal Reserve interest rate hikes.Īdding to the downbeat mood were geopolitical concerns after the United States shot down a suspected Chinese spy balloon that had floated across the country for days. For visitors with visual disabilities, access to this website, including our FICO Data Privacy Policy, is available through assistive technologies, such as BrowseAloud, JAWS, VoiceOver, Narrator, ChromeVox, and Window-Eyes. Further information is available in our FICO Data Privacy Policy. When you register for our products and services, we also collect certain personal information from you for identification purposes, such as your name, address, email address, telephone number, social security number, IP address, and date of birth. PRIVACY NOTICE: When you visit this website we collect your browsing activities on our site and use that information to analyze and research improvements to the website, and to our products and services. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Many factors affect your FICO Scores and the interest rates you may receive. Equifax Credit Report is a trademark of Equifax, Inc. Learn moreįICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Your lender or insurer may use a different FICO ® Score than the versions you receive from myFICO, or another type of credit score altogether. All rights reserved.Īll FICO ® Score products made available on include a FICO ® Score 8, and may include additional FICO ® Score versions.
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