Asia Morning Market News Sep 3, 2025

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• STOCKS: Wall Street indexes end between 0.55% and 0.8% lower, Europe falls much more, Asia not as much.
• SHARES/SECTORS: U.S. real estate sector slumps 1.7%, biggest fall in a month. Nvidia shares lowest since July 23, off 8% since Q2 results, Kraft Heinz shares tumble 7% as company says it will split.
• FX: Dollar rallies broadly, dollar index +0.6%. Sterling slumps 1.1%, biggest decliner across global FX today, as UK fiscal fears snowball.
• BONDS: Long-dated yields spike, curves steepen. UK 30-year gilt yield above 5.70% for first time since 1998, French equivalent the highest since 2009.
• COMMODITIES: Gold leaps to record high of $3,540/oz.

1. European bond yields at multi-year highs on fiscal jitters, stocks stumble
2. Gold hits record high over $3,500 per ounce, as focus turns to payrolls data
3. Fed at a potential pivot point on jobs as storylines diverge
4. Tariff challenge thickens market fog and confusion: Mike Dolan
5. Japanese investors are leaving the reflation trade to foreigners