Asian markets mixed after Wall St drop, Shanghai dips before briefing

Oct. 11, 2024 - Legit.ng

Disappointing US inflation data and a blockbuster jobs report have dented expectations for a second successive bumper interest rate cut by the Federal Reserve. Photo: Anna Moneymaker / GETTY IMAGES NORTH AMERICA/Getty Images via AFPSource: AFPMost Asian markets were mixed Friday as investors digested disappointing US inflation data that further dampened expectations for another bumper interest rate cut next month.

"I expect that that will continue," he said, adding he thought the bank could continue to bring borrowing costs down. Traders are now pricing in a 25-basis-point reduction, having been optimistic for a 50-point move before last week's jobs report.

After a tepid lead from Wall Street, where the Dow and S&P 500 came off record highs, Asia fluctuated...