Markets around the world wobbled on Friday as investors confronted signs of a weakening U.S. economy and President Trump’s new barrage of tariffs, which have scrambled global supply chains and antagonized major trading partners.
A report from the Labor Department on Friday pointed to striking signs of softness in the labor market, bolstering calls for the Federal Reserve to cut interest rates and adding to Wall Street’s unease about the economic outlook.
The yield on 10-year Treasury bonds slid a tenth of a percent, a large move in that market. (Yields move inversely to prices.) The dollar dropped against other major currencies.
Futures for the S&P 500 index were 1 percent lower. Stocks in Asia and Europe also fell. The Stoxx Europe 600 index, which includes the continent’s largest companies, dropped 1.5 percent.
Mr. Trump continued his attacks on the central bank on Friday morning, posting on social media that the Fed’s chair, Jerome H. Powell, should “substantially” lower rates. If he doesn’t, the Fed board should “assume control,” Mr. Trump said.
Eshe Nelson is a Times reporter based in London, covering economics and business news.
Danielle Kaye is a Times reporter, covering business and policy for the DealBook newsletter.
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