Washington | Strong evidence the US labour market is slowing rippled through markets, driving stocks lower and bonds higher on concern the Federal Reserve will now have to rush to prevent further weakness.
The sharp cooling triggered fears about a more pronounced jobs slowdown, sparking a flight to Treasuries, with two-year yields down 12 basis points. The data also triggered a fast repricing in money markets, which now project almost three Fed cuts in 2025.
Loading…