India, Sept. 2 -- The hardening in bond yields continued to weigh on global market sentiment even as Fed rate hike bets softened amidst hints of a broader slowdown in the U.S. labor market. Markets also digested the decline in crude oil prices despite the escalation in tensions between the U.S. and Iran.
Data released on Wednesday morning showed private businesses in the U.S. adding 38 thousand jobs in August versus an upwardly revised 46 thousand in July. The lowest level since January came in below forecasts of 47 thousand.
The CME FedWatch tool shows the likelihood of a quarter-percentage rate hike on September 16 at 64.3 percent, declining from 67.2 percent a day earlier in the wake of weaker-than-expected data from the labor market....