World shares recover after U.S. jobs report sell-off

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Reuters

By Tom Wilson LONDON (Reuters) – Global stock markets gained ground on Monday, recovering from losses sparked by a strong U.S. jobs report last week that bolstered the case for sharp interest rate hikes, while the dollar weakened and government bond yields fell. Markets quickly moved on Friday to price about a 70% chance that the U.S. Federal Reserve would raise rates by 75 basis points in September, sending two-year yields up 20 basis points and further inverting the curve. Yet the broad Euro STOXX 600 gained 0.8% in early trade on Monday, led by cyclical and growth stocks, helping recover lo…

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