Why Job Growth Pushed Markets Down

Today the most recent US occupations report was delivered with an extra 263k positions added to the economy.

This ordinarily is something worth being thankful for yet financial exchanges responded inadequately with the SPX down almost 2% starting around 11 am EDT. Crypto markets are responding much the same way with Bitcoin and Ethereum both down more than 2%.

How could an expansion in efficiency with additional positions prompt a declining securities exchange? So, it's anxiety toward the fed and another forceful financing cost climb.

To make sense of more, merchants see the development in the positions market as a key sign that the economy is still excessively hot from expansion. This will probably compel another 75 BPS or 100 BPS rate climb at the following took care of meeting and hence, merchants reaction to this most recent work report has been negative. A piece counter drive initially however ideally this checks out now inside the setting of high expansion and apparently steadily expanding financing cost climbs.

What is your take on this reaction? Does it sound good to you or do you conflict?