Asian Markets React to U.S. Tariffs and Jobs Report Amid Global Trade Tensions

Asian financial markets experienced oscillations on Monday, as investors grappled with last week's trade tensions initiated by U.S. tariffs and the release of a disappointing U.S. jobs report. The announcement that multiple countries would face tariff increases between 10% and 41% sparked global trade concerns, especially with the tariff implementation delayed until Thursday amidst ongoing negotiations. Compounding the unease, July's U.S. employment data showed only 73,000 new jobs added—well below the 104,000 forecast—and a rise in unemployment to 4.2%. Additionally, revisions decreased job gains from previous months by nearly 260,000, fueling worries that tariffs are impacting economic growth and inflation is approaching 3%. The report also led to the firing of a labor statistics official by President Trump, who accused her of data manipulation. Market expectations shifted towards a potential interest rate cut by the Federal Reserve in September, with some analysts predicting a 50 basis point reduction, causing U.S. Treasury yields to decline sharply. Investors now await comments from Fed Chair Jerome Powell, especially following the early resignation of Governor Adriani Kugler, ...