Asian stocks fell at the open Friday after uncertainty over Federal Reserve interest-rate cuts and stretched valuations in technology shares dragged Wall Street lower.

Gauges in Japan, South Korea and Australia all opened weaker, even as an index of the region was poised for its third gain in four weeks. The S&P 500 closed 1.7% lower while the Nasdaq 100 declined 2.1% Thursday. Attention was also on the pound Friday, which fell after the Financial Times said UK Chancellor Rachel Reeves was ditching a planned income tax rise.

The dollar, gold and Treasuries all held their losses as investors parsed commentary from Fed officials that cast doubt over a December rate cut. Also, the October jobs report will be released without a reading of the unemployment rate.

The moves dealt a fresh blow

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