*GLOBAL STOCKS DIVE AS INVESTORS PREPARE FOR MORE RATE HIKES -
The MSCI world equity index, which tracks shares in 45 nations, was down 2.45%.
The U.S. Labor Department reported that nonfarm payrolls increased by 263,000 in September - slightly above expectations - with the jobless rate dipping to 3.5%, below forecasts. The data solidified the view that the Fed and other global central banks have a way to go before easing up on their tightening cycles, after stocks surged earlier in the week on hopes that such a pivot may be on the way.
"Today's employment data did little to change the narrative for a Fed committee that has been intensely focused on bringing down inflation," said Charlie Ripley, senior investment strategist for Allianz Investment Management."Timing the Fed's pivot away from an aggressive policy stance is proving to be difficult, and the current conditions in the labor market are certainly not helping the situation.
The likelihood of ongoing interest rate increases helped drive up the dollar and Treasury yields yet again. The
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