Global Markets Stumble: US Jobs Data and New Tariffs Spark Concerns

Global markets encountered renewed pressures on Friday after U.S. employment figures fell short of expectations, leading investors to anticipate further rate cuts from the Federal Reserve. The disappointing jobs data compounded earlier losses spurred by the latest wave of tariffs from President Donald Trump.

Key U.S. indexes such as Nasdaq and S&P 500 futures declined around 1%, while Europe's STOXX 600 registered a 1.4% drop, marking its steepest weekly decline since early April. Economists had anticipated the addition of 110,000 jobs in the U.S., yet only 73,000 nonfarm payrolls were reported, causing investor unease.

The tariffs, set between 10% to 41% on imports from key trade partners, further dampened market sentiment. The dollar showed initial resilience but eventually retreated amid reduced rate cut prospects. Meanwhile, oil prices dipped again, although gold saw a slight increase, reflecting continuing global economic uncertainty.

(With inputs from agencies.)