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Dow Tumbles as Blockbuster US Jobs Report Stokes Fed Rate Hike Fears

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The Story

News Summary

  • The US added 162,000 jobs in August, roughly tripling expectations alongside upward revisions to prior months.
  • The blowout report drove market expectations of a September Federal Reserve rate hike to roughly 60%, triggering immediate selloffs across equities and crypto, with the Dow Jones sliding over 200 points.
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