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The Nasdaq 100 index limped into the weekend in a sour mood, as robust jobs reports reignited fears about Fed tapering stimulus. The tech sector may be under further pressure if this narrative stre.
Gold rebounded, paring a weekly decline as a smaller-than-expected gain in US payrolls helped ease concerns that the US Federal Reserve would pull back stimulus.
Payrolls increased by 559,000 last month, a US Department of Labor report on Friday said.
The median estimate in a Bloomberg survey of economists was for a 675,000 rise.
US dollar and Treasury yields initially dropped after the report. The weaker US dollar also helped copper extend gains on the London Metal Exchange.
Gold has wobbled after last month jumping the most in 10 months on concern that faster economic growth would spur inflation that leads governments
The Nasdaq 100 index pulled back ahead of Friday’s nonfarm payrolls data, as fears about Fed tapering geared up. The Hang Seng Index faces a headwind of re-escalating US-China tension.