Asian Stocks Fall Ahead of US Nonfarm Payroll Data: Markets Wrap

Richard Henderson

Thu, Mar 6, 2025, 4:19 PM 5 min read

(Bloomberg) -- Asian equities fell connected Friday aft Wall Street traders navigated falling stocks amid whipsawing tariff headlines.

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Shares successful Australia and Japan fell much than 1% successful opening commercialized portion equity scale futures for Hong Kong slipped. Drops for Japanese benchmarks reflected declining hazard sentiment and a Thursday rally successful the yen.

The S&P 500 slid 1.8% and the Nasdaq 100 sank 2.8%, with the tech-heavy gauge connected the brink of a method correction. US futures partially retraced the losses aboriginal Friday aft Broadcom Inc. gave an upbeat gross forecast. The chipmaker reassured investors that spending connected artificial-intelligence computing remained ongoing, pushing its shares astir 15% higher successful after-market trading.

In a motion of fragile sentiment during regular trading connected Thursday, US stocks failed to signifier a rebound aft a determination by President Donald Trump to hold levies connected Mexican and Canadian goods covered by the North American commercialized deal. The seesawing outlook connected tariffs added to the downbeat temper connected Wall Street up of nonfarm payrolls information connected Friday.

“Right now, commercialized argumentation is dominating marketplace action,” said Chris Larkin astatine E*Trade from Morgan Stanley. “Until the tariff fume clears, it could proceed to beryllium a bumpy thrust for traders and investors.”

The post-hours rally dispersed to tech companies that were among the hardest deed connected Thursday. Nvidia Corp. and Marvell Technology Inc., which plunged during the main league arsenic its outlook disappointed investors, roseate aft the closing bell.

Trump exempted Mexican and Canadian goods covered by the North American commercialized statement known arsenic USMCA from his 25% tariffs until April 2. The determination was the latest successful a bid of stop-start actions connected levies aimed astatine the countries.

Later comments from Treasury Secretary Scott Bessent each but confirmed tariffs volition beryllium coming. Bessent rejected the thought that tariff hikes volition ignite a caller question of inflation, and suggested that the Federal Reserve ought to presumption them arsenic having a one-time impact.

Treasuries rallied connected the abbreviated extremity of the curve Thursday but were different small changed. An scale of the dollar fell for a 5th session, its longest losing streak successful astir a year. The Mexican peso and the Canadian dollar roseate connected quality of the imaginable tariff reprieve. Australian and New Zealand yields fell aboriginal Friday.