US Stock Market Sees Significant Volatility Amid Strong Jobs Report

The US stock market saw significant volatility today, with the Nasdaq 100 plummeting 3.3% due to tech-heavy stocks leading the decline.

Investors were unsettled by the strong US Non-Farm Payrolls report, which showed an increase of 172,000 jobs, exceeding expectations and causing a hawkish Federal Reserve stance. The sharp rally in the US dollar put significant pressure on precious metals, with silver dropping 7% and gold testing the $4,330 per ounce level.

Bitcoin slumped to $60.5k, while Ethereum lost almost 10%, amid cryptocurrency market panic. The strong dollar also caused a surge in Treasury yields, which moved significantly higher following the release of the NFP report.