<h1>Global markets mixed as investors price expected US rate cuts ahead of key payrolls and inflation data; tariffs worry</h1> Global markets traded mixed as investors priced expected US central bank interest-rate cuts pending key US economic and inflation releases later in the week, affecting equities, commodities and currency moves. Political uncertainty in Japan following the announced resignation of the prime minister heightened sectoral volatility and candidate positioning, with defense-related stocks rising amid hawkish campaigning. Markets also reflected concern that tariffs imposed by the US administration could fuel inflation, a factor influencing monetary policy. Upcoming revised US payrolls and inflation reports may materially alter market expectations and trigger legal and regulatory scrutiny of trade and financial stability risks.