Cooling of labor market triggers speculation on Fed rate cuts and market turmoil

In August, the number of non-farm jobs increased by only 22,000, far below the expected 75,000, and the unemployment rate rose to 4.3%. The market currently expects the Fed to cut interest rates by 25 basis points in September at a 92% chance, and some analysts even predict a 0.5% cut. Weak data triggered a sharp decline in U.S. stocks, gold prices soared, while the euro/dollar climbed above 1.1700 against the backdrop of weak dollar.