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Jobs Surge Sparks Rate Hike Fears
Description
The market took a brutal hit Friday, with the S&P 500 plunging 2.6% and the Nasdaq even worse—triggered by unexpectedly strong May job growth that’s fueling speculation the Fed may hike rates soon. New Fed Chair Kevin Warsh’s first policy meeting looms, adding pressure as big tech giants like Nvidia, Alphabet, and Meta suffer major sell-offs, with Meta possibly issuing more stock to fund AI. Meanwhile, inflation persists amid global tensions and rising oil prices, threatening to slow growth—creating a volatile mix that’s got everyone watching the Fed closely.
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