Crypto
US Jobs Report Sends Global Markets into Turmoil
The US economy added 162,000 jobs in August, nearly triple the consensus estimate of 53,000 to 55,000.
This marked the strongest monthly gain since March and sent shockwaves through global financial markets.
The robust labor data undermined the case for a pause in Federal Reserve policy, with Fed Governor Christopher Waller having signaled a preference for holding rates steady just one day earlier.
The 10-year Treasury yield spiked to 4.823%, approaching multi-year highs, and Bitcoin dropped from above $82,000 to below $79,200.