Employment Data Triggered Interest Rate Panic: Markets Fell on the Last Day of the Week.
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Bitcoin, after rising to $82,300 at the beginning of the week, retreated due to the impact of US employment data. While strong employment figures changed expectations regarding the Fed's interest rate policy, attention in the crypto market has turned to inflation data and the interest rate decision.
In the US economy, the 162,000 increase in non-farm employment in August and the unemployment rate remaining at 4.1% have reshaped expectations regarding the Federal Reserve's (Fed) September interest rate decision. While the likelihood of an interest rate hike has strengthened following the data, White House Senior Advisor Kevin Hassett stated that if inflation continues to trend positively, there could be a strong justification for keeping int…
The fact that US non-farm payrolls exceeded expectations in August revived concerns about interest rate hikes. The New York stock market closed lower on the last trading day of the week, while bond yields rose.
The US scholarships closed the final session of the week with withdrawals, on a day marked by the disclosure of employment data that exceeded expectations. UiPath fell more than 16% and Lululemon fell more than 17%.
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