A roundup of trading on major world markets:
NEW YORK – Wall Street stocks have finished sharply lower after a strong US jobs report raising expectations the Federal Reserve will soon lift interest rates.
The Dow Jones Industrial Average sank 278.94 points (1.54 per cent) on Friday to 17,856.78.
The broad-based S&P 500 fell 29.78 (1.42 per cent) to 2,071.26, while the tech-rich Nasdaq Composite Index lost 55.44 (1.11 per cent) at 4,927.37.
The Labor Department said the US economy added 295,000 jobs in February, pushing the unemployment rate down two tenths to 5.5 per cent, the lowest level since May 2008.
LONDON – The euro tumbled through the $US1.09 level to strike a fresh 11.5-year low as the ECB nears the launch of its massive stimulus package and strong US jobs data raises the possibility of a US rate hike soon.
Frankfurt’s benchmark DAX 30 index of top companies closed up 0.41 per cent to 11,550.97 points after reaching an intra-day record high of 11,600, while in Paris the CAC 40 rose 0.02 per cent to 4,964.35 points.
On the downside, London’s FTSE 100 index ended the day down 0.71 per cent to 6,911.80 points, having posted a record closing high on Thursday after the ECB announced its bond purchases will start next week.
The euro tanked against the US dollar after the US Labor Department said the US economy pumped out a stronger-than-expected 295,000 net new jobs in February.
HONG KONG – Asian markets mostly rose following gains in New York.
Tokyo climbed 1.17 per cent thanks to a weaker yen. The Nikkei 225 index rose 219.16 points to close at 18,971.00 while Seoul closed 0.73 per cent, or 14.56 points, higher at 2,012.9.
Sydney was flat, edging down 5.26 points owing to a decline in the price of iron ore, ending at 5,898.9.
Hong Kong gave up 0.12 per cent, or 29.04 points, to 24,164.00 and Shanghai slid 0.22 per cent, or 7.29 points, to 3,241.19, with investors subdued a day after China lowered its economics growth target for 2015.
WELLINGTON – The NZX 50 Index rose 46.293 points, or 0.8 per cent, to a fresh record of 5903.065.