Market Watch

US jobs data for September signals more Fed rate hikes ahead

The Labour Department announced that the US added 263,000 jobs in September while the unemployment rate fell to 3.5 per cent. PHOTO: AFP
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SINGAPORE - Any hope for a Federal Reserve rate pause was wiped out by data on Friday which showed that while the United States economy added a lower-than-expected 263,000 jobs in September, the unemployment rate actually fell to 3.5 per cent from 3.7 per cent.

Wall Street, which had rallied earlier in the week on hopes of a Fed rate pivot, reacted predictably on Friday, with all three marquee indices tumbling.

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