Global markets saw volatility as a robust US jobs report weighed on rate expectations. European shares logged weekly losses on inflation worries, while some analysts noted strong jobs data wouldn't alter the Fed's September call.
Bitcoin surged, with ETFs posting their best day in nine months as the price hit $82,000, and Larry Fink now calls Bitcoin 'digital gold'. Bond yields soared on the strong jobs data, negatively impacting homebuilder and automaker stocks.
President Trump's threat to halt trade unless the Fed cuts rates created market jitters. His executive order on beef, allowing ranchers to process their own, saw shares of JBS and Tyson Foods fall. Tesla faced scrutiny over Cybercab certification, contributing to a 4% weekly decline for 3M stock and a drop in Lululemon shares after an analyst cut its price target.
Watch for upcoming inflation data and central bank commentary for further market direction.