Strong US jobs beat sparks stock selloff on rate hike fears

Stocks fell after the US added 162,000 jobs in a month, triple expectations. A stronger labor market increases the probability of interest rate hikes, pressuring risk assets. This reaction follows a prolonged period of inflation above 2% for 60 consecutive months: markets now price stronger jobs as a negative for equities and crypto, and a weakening labor market as relief through potential rate cuts.