US jobs report boosts Fed rate hike odds, sparking $1.7B Bitcoin ETF outflows and a tech sell-off. Crypto diverges from equities amid macro uncertainty.
U.S. stocks slid Friday as a stronger-than-expected May jobs report dashed rate-cut hopes, while a global tech selloff triggered by Broadcom's earnings deepened.
Broadcom's disappointing revenue miss sparks a global sell-off in AI and chip stocks, with investors rotating into defensive sectors. European and Asian markets tumble.