Global markets mostly slid on Monday after traders trimmed bets on US Federal Reserve rate cuts and oil extended a rally sparked by new sanctions on Russia’s energy sector.
An outsized US jobs report on Friday dealt another blow to hopes for more interest rate cuts in 2025, and was followed by hefty losses on Wall Street.
Wall Street’s main three indices fell further at the start of trading on Monday, although the Dow pushed into positive territory.
The tech-heavy Nasdaq was down 1.4 percent in late morning trading after the United States announced additional export restrictions on AI chip exports.
Shares in tech giant Nvidia, whose chips are prized by firms developing AI applications, fell by 2.9 percent.
Shares in Dutch firm ASML, which makes the machines that create the most advanced chips, slid by 1.9 percent in Amsterdam.
In Europe, London, Paris and Frankfurt finished lower.
In Asia on Monday, Hong Kong and Shanghai stocks fell …