Stocks Fall in Asia as Powell Comments Dash Hopes for Early Fed Rate Cuts

• U.S. jobs report and Powell interview quash expectations of early Fed rate cuts, triggering stock sell-off in Asia • Powell said Fed can be "prudent" in deciding when to cut rates, with strong economy allowing time to build confidence inflation will keep falling
• Traders began pricing March as start of expected Fed easing cycle, but recent data has raised doubts • Investors now see 82% chance of Fed holding rates in March, down from 33% at start of year • Taylor Swift won Grammy award for album of the year, becoming first artist to win top music prize 4 times