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Dow Jones Slides Amid Surging Layoffs and AI Bubble Concerns

Dow Jones Slides Amid Surging Layoffs and AI Bubble Concerns

Author:

Global Cryptocurrency

Published:

2025-11-06 20:35:02

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BTCCSquare news:

The Dow Jones Industrial Average (DJIA) tumbled Thursday as a grim layoffs report from Challenger, Gray & Christmas reignited economic anxieties. October saw 153,074 job cuts—a 183% monthly surge and the highest October total since 2003. "This mirrors 2003's disruptive tech shift," noted Andy Challenger, citing cost-cutting, AI adoption, and macroeconomic pressures as key drivers.

Hiring plans contracted to 488,077 year-to-date, the weakest since 2011, cementing a stagnant labor market. Rate cut expectations surged post-report, with a 72.6% probability priced in for a December Fed move—up from 62% yesterday. Meanwhile, Treasury Secretary Scott Bessent voiced confidence in Supreme Court support for Trump-era policies.

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