In Asian Equity Markets stocks fell sharply on Thursday amid growing signs of weakness in China’s manufacturing sector, while concerns over a hawkish Fed grew ahead of key nonfarm payrolls data this week. China’s bluechip Shanghai Shenzhen CSI 300 index traded flat after a private survey showed the country’s manufacturing sector contracted in August. Japan’s Nikkei 225 index lost 1.7 percent, while the tech-heavy Taiwan and Hong Kong bourses lost 2 percent and 1.6 percent, respectively. South Korea’s KOSPI fell 1.9 percent. Australia’s S&P/ASX 200 lost nearly 2 percent on a swathe of weak data.

In Currency Markets China’s yuan fell on Thursday amid more signs of a manufacturing slowdown in the country, while the Japanese yen fell to a 24-year low as the dollar strengthened ahead of key U.S. payrolls data this week. The yuan fell 0.2 percent to 6.9027. Japan’s yen fell 0.4 percent to a 24-year low of 139.56 against the dollar. Australia’s dollar sank 0.6 percent, as slowing industrial growth in China pointed to weaker demand for the country’s commodity exports. Dollar index futures also rose 0.3 percent, with strength in the greenback weighing on most Asian units.

In US Equity Markets stocks ended the month with their fourth straight daily decline on Wednesday, cementing the weakest August performance in seven years as worries about aggressive interest rate hikes from the Federal Reserve persist.  The Dow fell 0.88 percent, to 31,510.43; the S&P 500 lost 0.78 percent, to 3,955; and the Nasdaq Composite lost 0.56 percent, to 11,816.20. Bed Bath & Beyond Inc lost 21.30 percent after saying it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.

In Commodities Markets oil prices extended their slide on Wednesday, led lower by worries that the global economy would slow further with renewed restrictions to curb COVID-19 in China. Brent crude futures for October due to expire on Wednesday, settled at $96.49, down $2.82 a barrel, or 2.8 percent. U.S. West Texas Intermediate (WTI) crude futures ended down 2.3 percent, at $89.55 a barrel. Spot gold fell 0.6 percent to $1,712.56 an ounce. Spot silver fell 2.6 percent to $18.00 an ounce. Platinum fell 0.6 percent to $842.30. Palladium edged 0.7 percent lower to $2,072.53.

In European Equity Markets stocks fell on Wednesday, clocking declines for the month as data showed euro zone inflation in August hit another record high, while energy concerns intensified after Russia began halting gas flows to Germany via a key supply route. The continent-wide STOXX 600 fell 1.1 percent to new six-week lows, carrying its losing streak to the fourth straight day. Energy stocks fell 2.6 percent, leading losses as oil prices continued to slide on recession fears. Italy’s Eni fell 3.5 percent after saying it would receive lower volumes of gas from Russia’s Gazprom.

In Bond Markets U.S. Treasury yields were mixed on Wednesday as investors continued to weigh inflationary concerns against fears of a sharp economic slowdown. Benchmark U.S. Treasury 10-year yields rose to 3.13 percent, while two-year note yields were slightly lower, at 3.448 percent, after hitting a new 15-year high of over 3.5 percent earlier in the day. The two-year note yield spiked above 3.5 percent to the highest level in 15 years after euro zone inflation hit a fresh record high, but then fell after the ADP National Employment report showed U.S. private payrolls increased moderately in August.