Asian stocks follow Wall Street lower, nervous wait for U.S. jobs data

SINGAPORE - Asia’s stock markets had their worst session in two weeks on Friday following a tech-led plunge on Wall Street, though gains in safer assets like bonds and dollars were muted as investors awaited U.S. job data to see if it triggers a bigger selloff.

The Nikkei declined 1%. Australia’s ASX 200 led losses with a 3% fall as global investors sold growth-exposed miners like BHP and traders trimmed positions ahead of the weekend in case Wall Street takes another dive. “The pullback is probably a healthy pullback, given the amount of outperformance tech companies have had.”

Foreign exchange markets were on edge at the possibility and a safety bid helped the dollar cling to gains that have it headed for its best week in more than two months. [FRX/] Benchmark U.S. 10-year bond yields rose about 2 basis points on Friday, having fallen about 3 basis points overnight.Thursday’s tumble was the biggest one-day percentage drop on the tech-focused Nasdaq 100 since March and the darling stocks of recent months were hit hardest.

“However, this is unlikely to be a repeat of the tech wreck of the late 1990s, given how much the market and sector have changed,” he added.

I know it's form, but its so annoying that 'up' is close to close, not open to close. Nikkei actually shot up (from its gap down) at the open.

Where is the President for this great news

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