US Stocks Plunge on Weak Jobs Data and Trade Tensions, Crypto Markets Watch Closely

US equities faced a sharp sell-off as President Trump's sweeping tariff hikes and a disappointing jobs report rattled markets. The Dow Jones Industrial Average tumbled over 600 points, while the S&P 500 and Nasdaq Composite fell 1.7% and 2.3% respectively. Tech stocks underperformed despite strong earnings reports.

The labor market showed unexpected weakness, with June payrolls growing just 73,000 versus 104,000 expected. Previous months' figures were revised downward, pushing the unemployment rate to 4.2%. Treasury yields dropped as traders priced in potential Fed rate cuts.

Market turbulence coincides with growing institutional interest in digital assets. Bitcoin and ethereum remain focal points as traditional markets demonstrate volatility. Crypto exchanges report steady volumes despite equity market turmoil.