Stocks Fall as Fed Rate-Cut Bets Ease, Oil Jumps: Markets Wrap

Asian stocks stumbled after four consecutive days of gains as uncertainty over Federal Reserve interest-rate cuts and stretched technology valuations weighed on sentiment.

The MSCI Asia Pacific Indexdropped 1.2%, with chipmakers such as SK Hynix Inc. leading declines, after comments from Fed officials damped expectations for a December rate cut. The pullback capped a week in which stocks had rallied on hopes that the end of the US government shutdown would revive key economic data releases. Global equities are heading for a fourth weekly rise in five. Chinese shares held their losses after weak economic data.

Oil jumpedas ...