Stocks Mixed as Investors Weigh Hawkish Fed Against Strong Job Market

The dollar eased and global stocks slipped as investors assessed tight US labor market and hawkish Fed policy.

European stocks rebounded but Wall Street fell as benchmark Treasury yields hovered near 16-year highs.

Oil prices extended sharp losses on uncertain demand outlook and monetary policy.

Long-dated Treasury yields edged up while shorter-dated notes slipped, reflecting interest rate expectations.

Financial markets see a 22.2% chance of a Fed rate hike in November and rates above 5% through June 2024.