Asian shares slid as a mixed U.S. jobs report muddied Fed outlook, triggering risk-off sentiment.

EURO STOXX 50 futures slid 1.4%, FTSE futures fell 1%, while U.S. futures were slightly higher.

Wall Street dropped overnight on concerns over stretched tech valuations, with the Nasdaq seeing its biggest swing since April. The U.S. jobs report showed strong hiring but higher unemployment and downward revisions, leaving rate-cut expectations uncertain. Markets now price a 40% chance of a December cut.

MSCI Asia-Pacific fell 2.2%, its worst week since April. Japan’s Nikkei dropped 2.2%, Taiwan 3.4%, South Korea 3.7%, and China/Hong Kong 1.5% each.

Analysts warned of bubble-like conditions in U.S. tech but expect seasonal trends to help markets later in the year. Fed officials remained cautious, flagging risks of asset-price instability.

Japan approved a ¥21.3 trillion stimulus package, pressuring the yen near a 10-month low. JGB yields eased as issuance is expected to shrink. Inflation data kept expectations of a BOJ rate hike alive.

Treasury yields steadied after falling overnight.
Oil extended losses on peace-talk hopes, with WTI at $58.29.
Spot gold dipped 0.5% to $4,055.