Wall Street saw its worst session since May due to weak jobs and manufacturing data, post-Trump’s tariff announcement. S&P 500 dropped 1.5%, bond yields sank, and two-year notes fell 22 basis points. Job growth slowed, unemployment rose, and factory activity contracted in July. Economic concerns led to reassessment of Fed rate cuts. (50 words)

Amazon.com Inc. led megacap losses with underwhelming profit outlook. Short-term yields saw biggest plunge since August 2024, with an 80% chance of rate cut in September. Job growth averaged 35,000 over three months, prompting concerns about Fed’s wait-and-see approach. US factory activity contracted, further fueling economic worries. (50 words)

Investors reevaluate economic outlook amid new tariffs and cooling labor market. Fed’s wait-and-see approach questioned after job report revisions. Fed Chair Powell’s comments on job market risks and solid performance raise debate. Further downward revisions in job report expected, signaling potential slowdown in labor market. Economic conditions shifting. (50 words)

Read more at Yahoo Finance: Stocks Get Hit as Economic Jitters Fuel Bond Surge: Markets Wrap