Weak jobs report sparks market sell-off
The stock market reacted to the US employment report, which triggered a sell-off in the S&P 500 index.
Weak labor data increased the likelihood of Federal Reserve rate cuts, but investors are concerned about declining corporate earnings.
Analysts note that uncertainty in forecasts may heighten volatility in the coming weeks.
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US indices close lower amid rate cut expectations
US stock indices ended in negative territory, with the S&P 500 down 0.32%.
Expectations of Fed rate cuts strengthened following the weak jobs report, supporting gains in Asian indices.
Investors continue to closely monitor macroeconomic indicators that may determine the market's further direction.
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Trump ready to replace Powell, dollar under pressure
Donald Trump is set on replacing Fed Chair Jerome Powell, putting forward potential candidates willing to pursue aggressive rate cuts.
Weak labor data, in turn, is weighing on the US dollar and supporting the stock market.
A possible leadership change at the Fed adds uncertainty to the outlook for future monetary policy.
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