On Friday, Wall Street experienced a dramatic downturn, with the Nasdaq Composite index plunging more than 4%, its steepest drop since April 2025. This decline was primarily driven by a stronger-than-expected US jobs report for May, which revealed that 172,000 jobs were added, significantly outpacing economists' predictions of 80,000. While a robust job market is generally positive, it raised concerns regarding inflation and the likelihood of the Federal Reserve maintaining or increasing interest rates. The tech sector was particularly hard hit, with Nvidia's shares falling over 6% and Broadcom's shares dropping nearly 8% following its weak guidance on AI demand. Consequently, US Treasury yields surged to a 15-month high, further exacerbating fears about rising inflation. As a result, approximately 51% of investors now foresee a potential rate hike by the Federal Reserve at its upcoming October meeting. This market turbulence also extended to digital assets, with Bitcoin and Ether experiencing significant declines of nearly 4% and 10%, respectively.