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International Business Times
International Business Times
Business
AFP News

Stock Markets Drop As Early US Rate Cut Chances Recede

United States US Federal Reserve Economy Interest Rates Jobs Report
Asian markets continued their sluggish start to the year Monday (Credit: AFP)

Stock markets retreated Monday, extending a weak start to the year, after a forecast-busting US jobs report further dampened hopes of an early cut to interest rates in the world's biggest economy.

US and European oil futures slid nearly three percent after top producer Saudi Arabia cut the price of its crude, analysts said, weighing also on shares of energy majors.

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