* US job growth surge casts pall on rate cut bets * Brazil's industrial production rises in December * Latam stocks down 1%, FX down 0.5% By Amruta Khandekar Feb 2 (Reuters) – Stocks and currencies in resources-rich Latin America were pummeled on Friday by a fall in commodity prices and a hotter-than-expected U.S. payrolls report which threw cold water on bets of early interest rate cuts. MSCI's index for Latin American currencies was down 0.5% at 1555 GMT, while a gauge of stocks was 1.0% lower, set for its biggest one-day percentage decline since Jan. 22. Treasury yields surged on Friday, putting the dollar on the front foot after data showed U.S. jobs growth surpassed expectations in January, leading traders to trim bets of rate cuts from the Federal Reserve in May. This in turn weighed on prices of oil and metals, piling further pressure on assets in the commodity-heavy Latam region.
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