NEW YORK, New York -  A better-than-expected jobs report failed to stem the selling on Wall Street on Thursday, reversing the gains of a day earlier, and adding to the volatility of the week's trading.

"Total nonfarm payroll employment edged up by 119,000 in September but has shown little change since April, the U.S. Bureau of Labor Statistics reported Thursday. "The unemployment rate, at 4.4 percent, changed little in September. Employment continued to trend up in health care, food services and drinking places, and social assistance. Job losses occurred in transportation and warehousing and in federal government."

Tech stocks sold off despite a better-than-expected third-quarter earnings result which saw revenue advance 62 percent year-on-year.

"There's been a lot of talk about an AI bubble, Jensen Huang, Nvidia's CEO told investors on a call,. "From our vantage point, we see something very different."

Thursday's losses accelerated into the close, pulling all three major U.S. benchmarks into negative territory for the session.

Standard and Poor's 500 drops more than one and a half percent

The Standard and Poor's 500 posted a broad decline, falling 103.40 points, or 1.56 percent, to finish at 6,538.76. Most sectors closed lower, with technology, communication services, and consumer discretionary stocks among the weakest performers amid renewed valuation concerns.

Dow industrials slide but outperform broader market

The Dow Jones Industrial Average also moved lower but held up better than the tech-heavy indexes. The blue-chip benchmark dropped 386.51 points, or 0.84 percent, to close at 45,752.26. Losses in industrials, financials, and healthcare contributed to the decline, though some defensive names helped cushion the fall.

Nasdaq leads declines as tech retreat accelerates

The Nasdaq Composite recorded the steepest pullback of the session, sinking 486.18 points, or 2.15 percent, to end at 22,078.05. High-growth and semiconductor stocks were hit particularly hard as traders rotated away from risk-sensitive sectors.

Market outlook

Investors remained cautious amid uncertainty over central bank policy paths and mixed economic data. Analysts noted that Thursday's decline reflected a wider reassessment of risk appetite, particularly in technology shares, which have led markets higher for much of the year.

U.S. dollar strengthens broadly as euro slips and commodity-linked currencies retreat

The U.S. dollar advanced against most major currencies on Thursday, lifted by firmer Treasury yields and renewed demand for safe-haven assets amid lingering uncertainty in global equity markets. While the greenback posted its strongest gains against the Canadian, Australian, and New Zealand dollars, it also edged higher versus the euro.

Euro weakens as U.S. dollar finds renewed support

The euro slipped modestly, with EUR/USD easing to 1.1528, down 0.07 percent. Traders cited mixed economic data from the eurozone and a firmer U.S. dollar tone ahead of key inflation indicators due later in the week.

Dollar climbs against yen as rate differentials remain in focus

The U.S. dollar strengthened against the yen, rising 0.30 percent to 157.60 in USD/JPY trade. Investors continued to monitor commentary from the Bank of Japan, with speculation persisting that policy normalisation will remain gradual despite inflation pressures.

Canadian dollar softens as U.S. dollar gains momentum

The Canadian dollar retreated, with USD/CAD climbing 0.35 percent to 1.4097. Softer crude oil prices and a stronger U.S. dollar contributed to the move.

British pound edges higher

The British pound posted a slight increase, with GBP/USD ticking up 0.14 percent to 1.3075, supported by stable gilt yields and cautious optimism around the UK's economic outlook.

Swiss franc eases as dollar firms

The Swiss franc slipped mildly, with USD/CHF up 0.06 percent at 0.8059, reflecting modest dollar strength and lighter safe-haven demand.

Commodity currencies fall as global sentiment wavers

The Australian dollar dropped 0.48 percent, with AUD/USD moving to 0.6446, pressured by softer Asian risk sentiment and weaker commodity prices.
The New Zealand dollar also declined, falling 0.21 percent to 0.5591 in NZD/USD trading.

Market outlook

The overall tone in currency markets reflected a cautious stance, with investors awaiting fresh global economic data and central bank commentary. The U.S. dollar's broad-based gains suggested markets were positioning defensively as uncertainties persisted across equities and commodities.

Global stocks finish Thursday mixed as Asia rallies, Europe steadies, Canada Dives

Global equity markets ended Thursday's session with a broadly mixed performance, as strong gains across Asia contrasted with steadier trade in Europe and isolated pockets of weakness in the Middle East and Africa. Investors weighed upbeat earnings signals in parts of Asia-Pacific against lingering concerns over global growth, inflation, and the path of central bank policy.

UK and Europe posts modest gains across major indices

The FTSE 100 extending its recent climb. The London benchmark added 20.24 points, rising 0.21 percent to finish at 9,527.65, trading between 9,507.40 and 9,593.83 through the session.

European markets closed mostly higher. Germany's DAX gained 115.93 points, or 0.50 percent, to close at 23,278.85. France's CAC 40 followed the same trend, rising 27.30 points, or 0.34 percent, to 7,981.07.

The wider eurozone also firmed, with the EURO STOXX 50 up 27.87 points, or 0.50 percent, ending at 5,569.92. The Euronext 100 improved by 7.43 points, a gain of 0.44 percent, closing at 1,686.15.

Belgium's BEL 20 inched higher as well, rising 6.92 points, or 0.14 percent, to finish at 4,971.48.

Canadian Markets Slump

Canada's main index lost ground. The S&P/TSX Composite Index declined 371.86 points, or 1.23 percent, to close at 29,906.55. Weakness in energy producers and mining stocks weighed on the Toronto market, mirroring declines in global commodity prices.

Mixed performance across Middle East & Africa

Israel's TA-125 index retreated, falling 38.02 points, or 1.11 percent, to 3,400.30. Egypt's EGX 30 also slipped, closing at 40,302.40, down 206.80 points, or 0.51 percent.
South Africa's Top 40 USD Net TRI Index ended at 6,541.57 (movement not provided).

Asia-Pacific leads global gains with strong rallies in Japan, Taiwan, and Australia

Asia delivered the strongest momentum globally, with several major indices recording substantial gains.

Japan's Nikkei 225 surged 1,286.24 points, finishing 2.65 percent higher at 49,823.94, powered by technology and export-linked shares.

Taiwan's TAIEX (TWSE) jumped 846.24 points, soaring 3.18 percent to 27,426.36—one of its strongest single-day moves in months.

South Korea's KOSPI also rallied, climbing 75.34 points, or 1.92 percent, to 4,004.85.

Australia posted solid advances across both major benchmarks:

• The S&P/ASX 200 gained 104.80 points, up 1.24 percent, to 8,552.70.

• The broader All Ordinaries rose 112.60 points, or 1.29 percent, closing at 8,834.00.

New Zealand's NZX 50 strengthened by 112.50 points, or 0.84 percent, ending the day at 13,439.40.

Elsewhere in Asia:

• Hong Kong's Hang Seng Index finished nearly flat, up 4.92 points, or 0.02 percent, at 25,835.57.

• Singapore's STI increased 6.65 points, or 0.15 percent, to 4,511.87.

• Indonesia's IDX Composite edged up 13.34 points, or 0.16 percent, to 8,419.92.

• India's S&P BSE Sensex added 446.21 points, gaining 0.52 percent, to close at 85,632.68.

China's SSE Composite Index slipped 15.69 points, or 0.40 percent, to finish at 3,931.05, weighed down by ongoing concerns about property-sector stability and sluggish domestic demand.

Malaysia's KLCI weakened, falling 3.93 points, or 0.24 percent, to close at 1,619.96.

Overall global picture

Thursday's trade highlighted ongoing divergence between regions. While Asia-Pacific markets saw robust buying, Europe's gains were more measured, and selected Middle Eastern and African markets faced renewed pressure. With global economic uncertainty persisting, investors continue to navigate a cautious path, balancing optimism in parts of the Asia-Pacific region with broader macroeconomic challenges. 

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