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On Friday, shares took a steep dive after a robust jobs report heightened expectations of a Federal Reserve rate hike.

A robust U.S. jobs report increased expectations of a Federal Reserve rate hike.

KEY POINTS
On Friday, shares took a steep dive after a robust jobs report heightened expectations of a Federal Reserve rate hike. Investors grew cautious ahead of the weekend, anxious about escalating tensions in the Middle East. Iran's reaffirmation of Hezbollah support and demands for Israeli withdrawal from southern Lebanon added complexity to the US-Iran conflict. Technology stocks bore the brunt of Wall Street's downward trend, with major indexes like the Dow, S&P 500, and Nasdaq closing lower. U.S. Treasury yields surged, with the 2-year note reaching a 15-month peak. Amid strong economic data, inflation concerns grew. Oil posted a weekly gain, currencies fluctuated, and cryptocurrencies extended their decline, with Bitcoin dropping sharply. (With inputs from agencies.)
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