Asian Stocks Plummet Amid Market Volatility Ahead of US Jobs Data

Asian stocks fell on October 2 as investors struggled to navigate wild swings in bond and currency markets ahead of crucial US jobs data.

The benchmark 10-year US Treasury yields reached their highest since 2002 at 5.34%, only to retreat later, settling steady at 5.2512% in Asia.

Fiscal concerns in France pushed the spread between French and German sovereign bond yields above 140 basis points, its widest since 2012, rattling European stocks and sending the euro plummeting.

The single currency slid as far as $1.1215, its lowest since May 2025, before sinking against the yen and Swiss franc.