European markets are set to start the new trading week on a negative note as investors gauge the global economic outlook and efforts to tackle inflation.
Regional markets had closed higher Friday as investors digested key central bank decisions, economic data and corporate earnings.
One of the big data points last week, composite Purchasing Managers’ Index for the euro zone, showed business activity in the single currency area returned to growth in January for the first time in six months, adding to hopes the bloc will avoid a recession.
The U.S. jobs report last Friday came in much stronger than expected, with nonfarm payrolls increasing by 517,000, far more than the Dow Jones estimate of 187,000. Treasury yields jumped higher on the news as stock futures fell.
Stocks in the Asia-Pacific mostly fell overnight investors worried that the U.S. jobs report means the Federal Reserve has room for more interest rate hikes, as it continues its efforts to control inflation.
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