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Broad declines for U.S. equity markets, down for the

fourth day

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Weekly jobs data adds to investor pessimism

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Trump renews attack on Jerome Powell

By Gregor Stuart Hunter

SINGAPORE, Nov 19 (Reuters) - The yen regained its

footing and the U.S. dollar held steady against most of its

biggest peers in early trading in Asia on Wednesday, as

investors switched into safe havens after a days-long global

selloff in stocks.

The yen advanced 0.1% after hitting a nine-month low

against the dollar on Tuesday and was fetching 155.49 yen to the

dollar.

The dollar index, which measures the greenback's

strength against a basket of six currencies, was flat at 99.594,

close to a one-week high, as U.S. Treasury bonds drew bids.

Global equity markets have been hit hard this week, with the

S&P 500 on a four-day losing streak on concerns about

valuations of AI stocks and U.S. equity futures extending losses

in Asian trading on Wednesday.

Adding to the sense of anxiety, initial jobless claims data

released on Tuesday showed the number of Americans on jobless

benefits surged between mid-September and mid-October.

"This was the first data release by the Department of Labor

since the U.S. government shut down its federal operations on

the first day of October, and it wasn't great," said Tony

Sycamore, market analyst at IG in Sydney.

The "more important test" will come with the delayed release

of Thursday's non-farm payrolls release for September, he added.

Traders are inching up bets on monetary easing from the

Federal Reserve at its next meeting, although there is still

uncertainty given division within the central bank on whether to

delay a rate cut.

Fed funds futures are pricing an implied 46.6% probability

of a 25-basis-point cut at the December 10 meeting, compared to

a 42.4% chance a day earlier, according to the CME Group's

FedWatch tool.

Richmond Federal Reserve President Thomas Barkin said on

Tuesday he hopes coming data and ongoing community interviews

will help clarify where the economy is heading. His colleagues

are divided over whether to cut interest rates to protect the

job market or leave them where they are to guard against higher

inflation.

U.S. President Donald Trump renewed his attacks on Federal

Reserve Chair Jerome Powell on Tuesday, saying "I'd love to get

the guy currently in there out... but people are holding me

back. Powell's term as Fed chair is up in May.

Trump will meet the final shortlist of candidates for the

next Fed chair after Thanksgiving and he could announce his pick

before Christmas, U.S. Treasury Secretary Scott Bessent said on

Tuesday.

Capital flows data from the Treasury department showed

Japan's holdings increased for a ninth straight month in

September. Japan remained the largest non-U.S. holder of

Treasuries with $1.189 trillion, its biggest holdings since

August 2022.

The Australian dollar fetched $0.65085, 0.1% weaker

in early trade, after data showed wages rose at a steady pace in

the third quarter. The kiwi slipped 0.2% to $0.5659.

The euro stood at $1.1580, little changed but trading

near a one-week low of $1.1572 hit in U.S. trade.

Sterling was at $1.3148, unchanged on the day.