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US jobs report: markets don’t like it

By Matt Phillips

Oof. This morning’s US unemployment report was a stinker that wrong-footed investors across financial markets. Here’s are some snapshots of the knee-jerk reaction:

Investors dumped US stocks …

… they rushed to the safety of US bonds, sending prices higher and yields—which always move in the opposite direction—sharply lower …

They also sold the dollar …

… and bought gold—suggesting people are extending their expectations for how long the Federal Reserve will keep its foot on the gas pedal, creating new money and pushing it into economy.