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US NFP Beats 172K on June 5, Triggering Nasdaq Decline Over 4% and Crypto Selloff

GateNews
MacroeconomicsIndicesMetalsForex
BTC0.44%
According to the US Bureau of Labor Statistics, nonfarm payroll employment increased by 172,000 in May, more than double the expected 80,000–85,000, with the unemployment rate steady at 4.3%. The stronger-than-expected data reversed market sentiment on Friday, June 5; the Nasdaq Composite fell 4%, the 10-year Treasury yield climbed above 4.5%, and Bitcoin briefly tested $60,000. CME FedWatch odds of at least one rate hike in 2026 surged above 55%, as traders repriced toward a more hawkish Federal Reserve path. Gold declined from session highs near $4,514 to $4,300, while upward revisions to prior months' employment data reinforced expectations for a tighter labor market.
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