Stocks fall sharply as strong jobs data fuels rate hike bets; oil set for weekly gain

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NEW YORK: Shares fell sharply on Friday (Jun 5) after a blowout jobs report fueled bets of a rate hike by the United States Federal Reserve and as investors turned defensive ahead of the weekend, wary of the flare-up in Middle East hostilities. Iran reaffirmed support for the Hezbollah militia and demanded Israel withdraw from southern Lebanon, complicating efforts to end the broader conflict between the US and Iran. Israel has said it would not withdraw troops from Lebanon. On Wall Street, all

Jobs Report Fuels Fed-Rate Hike Bets | The Close 6/5/2026 Bloomberg Markets and Finance - 01:09
Jobs Report Fuels Fed-Rate Hike Bets | The Close 6/5/2026 Bloomberg Markets and Finance - 01:09

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Jobs Report Fuels Fed-Rate Hike Bets | The Close 6/5/2026 Bloomberg Markets and Finance - 01:09
Jobs Report Fuels Fed-Rate Hike Bets | The Close 6/5/2026 Bloomberg Markets and Finance - 01:09