The tech-heavy Nasdaq index saw its largest one-day decline since April 2025 as stock markets saw a steep decline on Friday. A surprisingly strong US jobs data for April caused a selloff, and the major US markets ended the week in the red due to growing concerns that the gains made thus far this year could not be sustainable.
Investors’ concerns that the Federal Reserve will maintain higher interest rates for an extended period of time were heightened by the statistics, particularly in light of the persistent inflation. The Dow Jones Industrial Average sank 1.35%, the S&P 500 closed 2.6% lower, and the Nasdaq index fell more than 4%.
On Friday, there was a significant selloff in digital assets as well. The largest cryptocurrency, Bitcoin, fell precipitously as investors scrambled to sell off riskier assets. The abrupt decline demonstrated how much investors are afraid about increased interest rates. The Federal Reserve is less likely to lower borrowing costs anytime soon, even though a robust employment market is often positive for the economy.
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