Overseas Trading: Global Stocks Drop Ahead of U.S. Payrolls

Stocks in Asia and Europe are having a rough time, as traders worry about the rate-hike implications of the U.S. nonfarm payrolls report

Sep 4, 2015 at 8:13 AM

Markets in Asia closed sharply lower, as traders got jittery ahead of the U.S. nonfarm payrolls report -- which could carry with it rate-hike implications. Japan's Nikkei dropped 2.2% on a stronger yen, while South Korea's Kospi slid 1.5%. Elsewhere, Hong Kong's Hang Seng resumed trading after Thursday's holiday, and subsequently dipped 0.5%, as the Nikkei Hong Kong purchasing managers index (PMI) hit its lowest level in six years. Chinese markets remained shuttered for holiday, and will re-open on Monday.

European bourses have taken a bearish path ahead of the U.S. jobs report, following the lead of their Asian peers. At last check, the French CAC 40 is the biggest eurozone loser -- off 2.1% -- while Germany's DAX and London's FTSE 100 are off 2% and 1.6%, respectively.

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