Asian Stocks Mixed as Global Markets React to U.S. Jobs Report and Credit Downgrade

U.S. added 187,000 jobs in July, fewer than expected, and unemployment rate dropped to 3.5%.
Fitch Ratings downgraded U.S. sovereign debt rating from AAA to AA+, citing fiscal deterioration.
European and U.S. markets experienced losses due to rising bond yields and mixed earnings results.
China's factory activity contracted for the fourth straight month in July, indicating slowing growth.
Markets are focused on assessing the potential end of the Fed's interest rate hiking cycle and signals of an economic slowdown.