The latest US labor market report, which showed the country lost 92,000 jobs in February, pushed stocks down and pointed to broader economic weakness.
Economists had expected an increase in payrolls after a strong January suggested the job market may be steadying.
But severe winter weather, a health care strike in California, and AI-related cuts contributed to the slowdown.
The dismal report comes at a volatile time for the economy, as the war in Iran risks reigniting inflation.
That puts the Federal Reserve in a difficult spot.
The central bank āhas few good options,ā The Wall Street Journal wrote; it is expected to keep rates steady next week, but holding firm for too long risks imperiling the already-fragile labor market.
