A broad market sell-off swept through stocks, bonds, bitcoin and gold after strong jobs data raised odds the Federal Reserve might hike rates this year.
The Nasdaq fell 3% in its worst day of the year as AI stocks tumbled and traders priced in a 43% chance of a rate hike in December.
The yield on the 10-year US Treasury note jumped to 4.54% despite falling oil prices, signaling markets are focused on inflation risks from the stabilizing labor market.
AI-generated summary was reviewed by a CNN editor.
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