(MENAFN- Mid-East Info) By Daniela Sabin Hathorn, senior market analyst at Capital

Market jitters are back as traders position themselves to tackle a week centred around NVIDIA's earnings and the delayed September jobs data. Global equities face another round of selloffs on Tuesday led by the Asian session despite a lack of fresh catalysts, suggesting a round of risk-aversion brought on by positioning. Markets are likely going to place increased focus on the delayed September jobs data to be released on Thursday. As of now, the odds of a rate cut in December have dropped to 45% after some caution and hawkish remarks from Fed officials. The jobs data could skew this pricing if it confirms a further softening of the labour market, which would play into the narrative of a weakening US economy, a key theme that has emerged in recent days and is driving some of the weakness in equities.

The selloff, which has been gathering steam for almost a week now, may continue into Wednesday as markets brace for the latest NVIDIA results, which come at a time when investors are becoming increasingly concerned about the sustainability of the AI boom that has been driving most of the rally of the past few years. Consensus is for another strong round of earnings from the world's first 5-trillion-dollar company, but the bar may be set higher than usual this time around. As the market has become accustomed to quarterly beats, the focus will be on forward guidance and whether the positive momentum can be sustained.

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