The suprisingly weak hiring numbers led investors to step up their expectations for an interest rate cut in September.

Global stock markets, including those on Wall Street and the TSX in Canada saw steep losses early in the Friday trading day as new tariffs take effect.

The Dow, S&P 500, and Nasdaq are falling sharply as the stock market reacts to President Donald Trump's latest tariffs announcement and a weak July jobs report.

Markets are assessing the reshaped US trade landscape after Trump on Thursday laid out steep new tariffs for dozens of countries.

The Dow Jones index sold off 475 points Friday on new Trump tariffs and a weak jobs report. Amazon stock plunged on earnings.