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U.S. Stocks Drop and Oil Surges as Jobs Report Misses and Middle East Conflict Hits Markets
U.S. Stocks Drop and Oil Surges as Jobs Report Misses and Middle East Conflict Hits Markets
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BTCCSquare news:
The U.S. labor market showed unexpected weakness in February, with the economy shedding 92,000 jobs against expectations of a 55,000–60,000 gain. Unemployment rose to 4.4%, further unsettling investors already nervous about geopolitical risks.
Equity futures tumbled across the board, with the Dow, S&P 500, and Nasdaq all dropping sharply. The Dow's weekly losses now exceed 2%, erasing its year-to-date gains.
Oil markets reacted violently to Middle East tensions, with WTI crude surging over 6% to breach $86/barrel. The dual shocks of economic softness and energy volatility created a risk-off mood across financial markets.
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