Markets turn volatile on softer US jobs data, speculation of further rate hikes

SINGAPORE – Despite the so-called “Goldilocks” jobs numbers for August, markets tanked last Friday as prevailing nervousness over the United States Federal Reserve’s next rate hikes spooked investors.

Wall Street’s marquee Dow Jones Industrials Index ended the week almost 3 per cent down at 31,318.44 points, ringing up a 4.81 per cent loss since June and chalking up a 13.81 per cent tumble since the year began.