Asian markets fall as strong US jobs data dents rate cut hopes [Video]

Asian markets mostly fell Monday as a mixed jobs report eased worries about the US economy but dampened hopes for interest rate cuts, while political uncertainty in Europe weighed on the euro.

With the Federal Reserve meeting this week, investors are keenly awaiting its updated “dot plot” outlook for borrowing costs, with commentators split on how many, if any, reductions are in the pipeline.

All three indexes on Wall Street ended lower Friday — but with the S&P 500 and Nasdaq still close to record highs — after data showed the world’s biggest economy added far more jobs than estimated last month.

The reading, which came after separate figures earlier in the week had indicated the labour market was finally softening, suggested there was still some way to go before the Fed would be comfortable with cutting rates.

However, traders were comforted that the country was not heading for a …