Wall Street closed lower Friday as stronger-than-expected U.S. jobs data pushed Treasury yields higher and revived rate-hike expectations.
๐ S&P 500: -0.38%
๐ Nasdaq: -0.29%
๐ป Dow Jones: -0.51%
August payrolls jumped 162K vs. 53K expected, while unemployment held at 4.1%. Markets now price a 58% chance of a Fed rate hike at the September meeting, up from 49.4%.
โ ๏ธ Higher yields could keep pressure on risk assets, including crypto, as traders await upcoming inflation data.
