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Stock market today: US stocks drop, bond yields jump after strong jobs report

US stocks moved lower on Friday after a hotter-than-expected May jobs report sent bond yields surging. Despite the strong jobs report, the unemployment rate rose to 4.0% from 3.9%, driven by a decline in labor participation. The strong payroll gains poured some cold water on the prospects of an imminent interest rate cut from the Federal Reserve, though chances for a rate cut in September remain in play.
United States Federal Reserve Carson Group Watch Tool Sonu Varghese Texas Intermediate
Source: yahoo.com

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