Australia’s stocks fell for the first time in three days after a U.S. job report raised concern the Federal Reserve may cut rates in the world’s largest economy by less than expected, weakening the boost to global growth.

Commonwealth Bank of Australia, the nation’s second-biggest bank, and Macquarie Group Ltd., the biggest securities firm, fell. In the U.S. on Dec. 7, American Express Co. and Capital One Financial Corp. dropped after Merrill Lynch & Co. said consumer spending will slow, crimping profits at credit-card companies.

The market is taking a more cautious view in regard to the U.S. economy, rather than the relief that the Fed cut may bring,” said Jason Teh who helps the equivalent of about $5.3 billion at Investors Mutual in Sydney.

BHP Billiton Ltd., the world’s largest mining company, advanced along with the price of metals including copper and zinc.

The S&P/ASX 200 fell 26.10, or 0.4 percent, to 6,628.60 at 2:42 p.m. in Sydney, snapping two days of gains. About three stocks declined for each two that advanced.

Commonwealth slipped 34 cents, or 0.6 percent, to A$60.35. Macquarie lost A$1, or 1.3 percent, to A$79.25. National Australia Bank Ltd., the nation’s largest lender, declined 41 cents, or 1.1 percent, to A$38.81.

In the U.S., the Standard & Poor’s 500 Index fell for the first time in three days on Dec. 7, dropping 0.2 percent, as the addition of 94,000 jobs last month prompted traders to reduce bets the Fed will cut interest rates to 4 percent from 4.5 percent at its Dec. 11 policy meeting. Futures contracts indicated a 26 percent chance of a half-percentage point cut, compared with a 36 percent likelihood a day earlier.

Miners Advance

Westfield Group, which owns 59 shopping malls in the U.S., dropped 14 cents, or 0.6 percent, to A$21.57.

BHP Billiton added 18 cents, or 0.4 percent, to A$43.68, and Rio Tinto Group, the world’s third-biggest mining company, rose A$1.61, or 1.1 percent, to A$147.09.

A measure of six metals traded on the London Metal Exchange, including copper and nickel, rose 2.4 percent. Copper jumped 2.8 percent, tin added 0.6 percent, and zinc climbed 1.5 percent.

Nufarm Ltd., Australia’s biggest supplier of farm chemicals declined A$2.08, or 12 percent, to A$14.64, after it said talks with China National Chemical Corp. for an acquisition by the Chinese company have ended. The shares earlier fell as much as 14 percent, the most in 11 years.

China National, backed by the world’s largest buyout fund Blackstone Group LP, last month made an indicative offer to buy Nufarm for A$3 billion ($2.6 billion) to form the world’s largest supplier of generic farm chemicals.

To contact the reporter for this story: Malcolm Scott in Sydney on mscott23@bloomberg.net . Berni Moestafa in Jakarta on Or bmoestafa@bloomberg.net

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