After a turbulent week for global markets, investors are digesting the latest US jobs report, tariff uncertainty, and a major surge in the euro.
US Job Market Shows Growth Despite Federal Layoffs
The US labor market added 151,000 jobs in February, up from an adjusted 125,000 in January, even as the economy faced threats of mass layoffs in the federal workforce and uncertainty over President Donald Trump’s tariff policies.
The unemployment rate rose to 4.1%, up from 4% in January, but remains within the narrow range of 4.0% to 4.2% seen since May 2024, according to the Bureau of Labor Statistics.
While 10,000 federal jobs were lost over the month, job gains in healthcare, financial activities, transportation, and social assistance helped offset the losses.
European Stocks Tumble as Tariff Uncertainty Grows
European stock markets slumped after Trump’s second reversal on tariffs created deep uncertainty among investors. The DAX index in Germany dropped 1.9% in late trading, weighed down by weak factory data that signaled worsening economic conditions. Meanwhile, France’s CAC 40 declined 1.3%.
In London, the FTSE 100 recovered from earlier losses but remains on track for its worst week of the year.
Euro Sees Biggest Weekly Surge Since Financial Crisis
The euro surged to its highest weekly gain since the 2008 financial crisis, fueled by market concerns over US trade policies and growing economic instability.
China Condemns US Tariffs
China’s Foreign Minister Wang Yi sharply criticized the US for its “two-faced” approach, condemning the imposition of tariffs on Chinese goods and warning against the “law of the jungle” created by Trump’s “America First” policy.
The latest trade data showed a drop in Chinese imports, suggesting that fears of a prolonged trade war are already weighing on demand.
