Global stock markets recovered their poise Monday after a big sell-off in Asia in the wake of unexpectedly strong U.S. employment data tempered hopes the Federal Reserve will aggressively cut interest rates. Fed leaders have indicated they are ready to cut rates to support economic growth amid signs of a slowdown in the U.S. economy in the wake of the tariff war with China. In light of that changing backdrop, Congressional testimony from Fed Chairman Jerome Powell later this week will be closely monitored in markets.
