Market volatility is traditionally a boon for brokers and banks hungry for client activity. But the latest bout may signal growing unease about a six-year-old bull market that owes much to repeated central bank largesse.
U.S. payrolls rose less than expected in August, but a drop in the unemployment rate to a near 7-1/2-year low of 5.1 percent and an acceleration in wages kept alive prospects of a Federal Reserve interest rate hike later this month.
China's struggle with an economic slowdown will haunt foreign exchange markets for months to come, a Reuters poll showed, even if many emerging currencies are considered somewhat cheap after months of a relentless sell-off.
Recent market turmoil should not delay the Federal Reserve from raising interest rates at least once, given that the global equities selloff and China's economic slowdown have had little effect on the U.S. economy, a top Fed official said on Friday.