Wall Street logs sharp losses as labor market strength stokes rate-hike fears

Wall Street's benchmark indexes fell sharply on Thursday amid a broad sell-off triggered by data showing strong US payroll numbers, which boosted bond yields. Investors now fear the US Federal Reserve will raise interest rates to address inflation. Private payrolls saw a larger-than-anticipated increase in June, with evidence of a solid labour market backing expectations that the Fed will keep interest rates higher for longer.

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