The U.S. economy added 172,000 jobs in May, significantly surpassing economists' forecasts and bolstering the likelihood of Federal Reserve rate hikes this year. The unemployment rate remained unchanged at 4.3%, according to the Bureau of Labor Statistics.
Following the report, Bitcoin traded below $62,000 amid broader crypto market declines, while the 10-year Treasury yield rose to 4.52%. U.S. equity index futures fell, with the Nasdaq 100 index down 1.2%. Despite recent strong performance in U.S. equities, some sectors, like semiconductors, faced setbacks due to disappointing earnings reports.
U.S. Job Growth Surges, Boosting Fed Rate Hike Prospects
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