Wall Street slid as major tech stocks dropped sharply and robust May job growth heightened expectations that the Federal Reserve will raise interest rates later this year.
U.S. employers boosted payrolls by 172,000 jobs in May, doubling forecasts and marking three consecutive months of job growth amid economic uncertainty.
U.S. employers added 172,000 jobs in May while unemployment remained at 4.3%, showing labor market resilience despite rising energy costs linked to the Iran war.
Employment rose significantly last month with stronger job additions and steady unemployment, reinforcing the Federal Reserve’s cautious stance on pausing interest rate cuts.
British Columbia’s employment rose by 25,000 jobs in May, partially recovering losses from earlier this year while the provincial unemployment rate held steady.
U.S. stocks retreated with major tech companies leading losses, while bond yields surged in response to robust May employment figures signaling less likelihood of Federal Reserve rate cuts this year.
Dynasty fantasy managers face crucial buy and sell decisions as some players’ values are set to rise while others may have peaked this season.
The upcoming May jobs report will indicate whether the U.S. economy maintained steady employment gains, with projections pointing to moderate job growth and stable unemployment.
Forward Industries, holding millions in Solana tokens, resumed significant SOL sales as prices dropped, raising fresh questions about the sustainability of altcoin treasury models.
Treasury Secretary Scott Bessent faced fierce opposition in a House hearing, championing Trump’s economic agenda and countering Democratic claims about inflation and rising living costs.
The technology industry has shed more than 123,000 jobs this year, with artificial intelligence cited as the primary reason behind the wave of layoffs across major firms.
A recent Economist/YouGov poll finds Pope Leo XIV enjoys a commanding net favorability lead over President Trump, alongside widespread public unease about AI progress and the conflict in Iran.