After a better than expected jobs report, the US market had closed with gains. However, in Asian trading, today stronger American currency has resulted in deep cuts in equities, gold and crude oil. Market participants believe that this indication of recovery would force the Federal Reserve to tighten earlier than envisaged.
The stock market in Japan and Singapore are closed due to holidays. In South Korea, the Kospi index fell 0.44%. Nasdaq futures slipped 0.5% and S&P 500 futures 0.3%.
Gold futures closed down 2.3% on Friday after the jobs report and continued it slides on Monday when the Asian trade began. After dipping as low as $1684, it was last down 2.2% at $1,723.
After the biggest weekly drop in four months on rising delta variant cases, crude oil prices are further down today. Brent fell $1.30 to $69.40 a barrel, while U.S. crude lost $1.29 to $66.99.