📉 Market Plummets After Strong U.S. Jobs Data.

U.S. Added 272K Jobs in May, Blowing Past Estimates; Bitcoin Pulls Back From 2-Month High.

Recent soft economic and inflation data combined with rate cuts this week in Europe and Canada had investors rethinking expectations about Fed policy.

🔸Far stronger than expected U.S. job adds are likely to put a damper on ideas of imminent Fed rate cuts.

🔸Bitcoin, stock and bond markets have all turned blood red in response to the fresh data.

The employment market in the U.S. remained strong in May with the government reporting the addition of 272,000 jobs, far past estimates for just 185,000 and well ahead of April's 165,000 (revised from a previously reported 175,000).

The May unemployment rate was 4.0% versus estimates for 3.9% and April's 3.9%.

The price of bitcoin (BTC) fell sharply from a two-month high just shy of $72,000 in the minutes following the numbers.

Although market was due for a little correction and the jobs data has worked as a catalyst to fuel this crash.

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