TLDR 

MARKET RECAP → Stocks extended their sharp decline Thursday as White House concessions on Trump’s tariff policies did little to ease investor concerns.

LAYOFFS SURGE AS DOGE SLASHES FEDERAL JOBS → U.S. layoffs soared 245% in February, with Musk’s DOGE cutting 62,242 federal jobs. Retail and tech cuts added to the chaos, while hiring struggled to keep up. 📉

GLOBAL BONDS SLIDE → Bond yields spiked as Trump’s tariffs and Germany’s defense spending overhaul fueled inflation fears. Investors braced for fiscal uncertainty and tighter markets. 📉

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MARKETS

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Notable Earnings This Week

TODAY’S TOP NEWS

Layoffs Surge as DOGE Slashes Federal Jobs

📉 U.S. employers announced 172,017 job cuts in February, a 245% spike from January and the highest monthly total since July 2020. The wave of layoffs was fueled by economic uncertainty, government cuts, and trade war fears.

⚠️ More than one-third of the cuts—62,242 jobs—came from Elon Musk’s Department of Government Efficiency (DOGE), targeting 17 federal agencies under Trump’s push to shrink the workforce. Retail also took a hit, with Macy’s and Forever 21 leading mass layoffs.

💼 While layoffs surged, companies did announce 34,580 new hires, bringing year-to-date hiring up 159% from 2024. Still, with weak private-sector job growth and rising unemployment claims, concerns over labor market stability remained high.

TODAY’S TOP NEWS

Global Bonds Slide as Tariffs and German Policy Shift Rattle Markets

📉 Bond yields surged worldwide as investors reacted to Trump’s new tariffs and Germany’s major policy shift on defense spending. German 10-year bond yields saw their biggest daily jump since reunification, while U.S. Treasury yields also climbed.

⚠️ Investors feared rising government borrowing could stoke inflation, complicating central bank rate-cut plans. The European Central Bank was expected to lower rates, but growing fiscal uncertainty made markets uneasy.

🌍 The sell-off extended to Japan, where bond yields hit 16-year highs. Analysts warned that rising geopolitical tensions, trade wars, and shifting fiscal policies were adding layers of uncertainty to global markets.

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