Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
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U.S. stocks closed sharply lower Friday after a disappointing July jobs report fueled recession fears and renewed volatility in tech shares led by Amazon. The Dow Jones Industrial Average dropped 542 points (1.7%), the S&P 500 fell 1.7%, and the Nasdaq Composite slid 2.2%.
The Labor Department reported just 73,000 new jobs in July, far below the expected 106,000. June’s data was also revised sharply lower, with total job revisions cutting 258,000 positions. The unemployment rate ticked up to 4.2%. Economists warned that manufacturing weakness and downward revisions paint a more fragile picture of the labor market than previously thought.
Following the report, President Donald Trump ordered the firing of Labor Statistics Commissioner Erika McEntarfer, accusing her of manipulating job data. Treasury yields plunged as traders increased bets on Federal Reserve rate cuts. Fed Governor Adriana Kugler’s resignation added to speculation about a potential policy shift ahead of the September meeting.
Market sentiment worsened after Trump signed an executive order raising tariffs — up to 50% on some countries — starting Aug. 7. Canada faces a 35% levy on certain goods, while Brazil will be hit with the highest duties.
Amazon shares tumbled after issuing weak income guidance despite AWS revenue rising 17.5% to $30.9 billion. Apple reversed gains despite beating expectations on iPhone and services sales, while Coinbase fell on weaker trading profits. Reddit shares surged on strong advertising forecasts, and energy giants Exxon and Chevron declined despite higher production.
Investors now await upcoming inflation data to gauge the Fed’s next move as markets remain under pressure from slowing growth and escalating trade tensions.
