US Stocks Slide on Weak Jobs Data and Trade Tensions, Crypto Markets Watch for Ripple Effects

Equity markets tumbled as a double blow of softening labor data and renewed trade tensions rattled investors. The Dow Jones Industrial Average plunged over 500 points while the S&P 500 and Nasdaq Composite fell 1.5% and 2% respectively, despite stronger-than-expected tech earnings.

The June jobs report revealed concerning cracks in labor market resilience, with just 73,000 positions added versus 104,000 expected. Concurrently, former President Trump's sweeping tariff announcements reshaped trade dynamics, compounding market unease.

As Treasury yields dipped on heightened rate cut expectations, cryptocurrency traders monitored for potential capital rotation into digital assets. Bitcoin and Ethereum options markets showed increased put activity, suggesting some investors view crypto as a potential hedge against traditional market volatility.