BEIJING – Asian stock markets followed Wall Street lower on Friday after disappointing U.S. jobs and economic data.
Shanghai, Tokyo, Hong Kong and Australia all declined. Overnight, Wall Street's benchmark S&P 500 index lost 0.4% for its third straight daily decline.
Stocks retreated after the U.S. government reported 861,000 people applied for unemployment benefits last week. Minutes of the Federal Reserve's latest meeting showed central bank officials believe the coronavirus pandemic still poses considerable risks to the economy.
In Washington, Treasury Secretary Janet Yellen urged Congress to avoid cutting President Joe Biden's proposed $1.9 trillion aid package.