European stocks posted their biggest weekly decline since June as better-than-estimated U.S. economic reports spurred speculation that the Federal Reserve will begin cutting stimulus measures sooner than forecast.
Gold analysts are bearish for a third week, the longest stretch since February 2010, as prices approach $1,200 an ounce and a stronger U.S. economy improves the chance that the Federal Reserve will reduce fiscal stimulus.
European stocks slid, posting their longest losing streak in five months, as European Central Bank President Mario Draghi said that financial-market developments and low domestic demand may hurt the euro area’s economy.
German stocks were little changed, halting three days of losses, as investors awaited tomorrow’s U.S. payrolls data and as the European Central Bank left its key interest rate unchanged at a record low.
Asian stocks fell, with the regional benchmark index declining to a three-week low, amid concern signs of improvement in the U.S. jobs market will prompt the Federal Reserve to bring forward cuts to stimulus.