Asian markets are mostly lower after shares slumped on Wall Street despite better-than-expected reports on the U.S. jobs market and business activity. U.S. futures and oil prices were higher. On Tuesday, the S&P 500 swung to a loss of 1.1% and the Dow Jones Industrial Average dropped 0.4%. The Nasdaq composite tumbled 1.9%. While strong reports on the U.S. job market and business activity were good news for anyone worried about a possible recession, they could also make it less likely the Federal Reserve will cut interest rates. On Friday, another report on the U.S. jobs market is expected to show a slowdown in overall hiring.
