Japan’s Nikkei falls 2%, Asian markets slip ahead of US jobs report

Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), which is operated by the Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020.

Kiyoshi Ota Bloomberg via Getty Images

Asia Pacific markets opened lower on Friday as markets continued to deal with the US Federal Reserve 75 basis points interest rate hike.

Japan Nikkei 225 It fell 2% in early trade after Thursday’s holiday. The Topix index was down 1.38%.

in south korea, Cosby Fractures dropped. The KOSDAQ index was down 0.36%.

MSCI’s broadest index of Asia Pacific shares was little changed outside of Japan.

Australia S & P / ASX 200 down 0.23%. The Reserve Bank of Australia is due to release a monetary policy statement later on Friday.

Qantas shareholder meeting and Singapore retail sales data are also scheduled for Friday.

The monthly US employment report is due later. Economists expect 205,000 jobs to be added in October. The unemployment rate is expected to remain at 3.5%, according to Dow Jones.

Overnight, US stocks fell to Fourth session in a row. The Dow Jones Industrial Average fell 146.51 points, or 0.46%, to close at 3,2001.25. The S&P 500 lost 1.06% to end at 3,719.89, while the Nasdaq Composite fell 1.73% to settle at 10342.94.

CNBC’s Samantha Soobin, Carmen Renick contributed to this report.