- Global stocks were set to fall for the week as investors worried that interest rate hikes by the Federal Reserve would spark a global recession.
- After the S&P 500 fell for the fourth time in a row, US futures fluctuated in Asian trading. A recovery in Chinese equities, led by Hong Kong-listed technology firms, helped to offset the overall drop.
- The MSCI World Index was on track to fall more than 3% this week. Japanese stocks fell on Friday as investors caught up after the holiday on Thursday.
- Treasuries maintained gains from the previous session, which saw a key segment of the yield curve reach new extremes of inversion, reaching levels not seen since the 1980s, when the Fed was aggressively tightening. Such curve inversions have a track record of predicting economic downturns, adding to market jitters ahead of the US jobs report on Friday.
