A strong Friday jobs report strengthens the case for U.S. rate hikes, while Donald Trump has threatened to halt trade with some countries unless the Federal Reserve cuts rates. Fed Chair Kevin Warsh must weigh the political backlash from tightening against the credibility risk of skipping a hike after his recent hawkish comments.

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President Trump threatens to prevent the United States from trading with many countries unless the Federal Reserve lowers interest rates.

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U.S. President Donald Trump said on Friday that he would stop trading with countries running a trade surplus with the United States unless the Federal Reserve lowered interest rates.

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President Donald Trump demanded that the Federal Reserve sharply cut interest rates, threatening to stop trading with countries that maintain trade surpluses with the United States.

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Bitcoin briefly fell about 2% below $80,000 after US nonfarm payrolls rose by 162,000 in August, far exceeding expectations. Markets raised the implied probability of a quarter-point September Fed hike to 59%, while the dollar and Treasury yields moved higher.

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Wall Street stocks declined and Treasury yields were mostly higher after an unexpectedly strong jobs report appeared to raise the chances that the U.S. central bank will increase interest rates later this month.

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AMC shares rose 21% overnight after its CEO criticized Robinhood for offering what he called “outrageous” tokenized shares. OpenAI had previously made a similar complaint, saying it had not authorized the transfer of its shares.

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AMC CEO Adam Aron said the company has no connection to Robinhood’s tokenized shares, reviving questions about how stocks are brought onto the blockchain.

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European shares edged lower on Friday ahead of closely watched U.S. jobs data, while Volkswagen stock rallied after the automaker announced a major transformation plan.

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Volkswagen shares rose 6% on Friday after the company announced plans to eliminate another 50,000 jobs as part of its transformation plan, amid tariff pressures and competition from China.

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Volkswagen plans to eliminate a further 50,000 jobs worldwide.

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Volkswagen employs nearly 630,000 people and is preparing to cut 50,000 more jobs worldwide after previous reductions. Its oversized workforce reflects extensive in-house production, years of brand acquisitions and costly German operations, while a slow shift to electric vehicles has left the carmaker under pressure from Chinese competitors. The company also wants to close four German factories, though its supervisory board has not yet approved immediate implementation.

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German carmaker Volkswagen says management and unions have agreed to eliminate another 50,000 jobs by the end of the decade, taking total job losses to 100,000 in the company’s biggest industry shake-up.

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Volkswagen’s supervisory board approved a sweeping overhaul involving 50,000 additional job cuts, fewer models and a smaller industrial footprint. The decision gives CEO Oliver Blume his clearest mandate yet to reshape Europe’s biggest automaker.

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Norway’s $2.3 trillion investment fund plans to reduce its U.S. Treasury holdings, saying it can diversify into new areas offering greater risk and returns.

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Oura, the company behind the Oura Ring smart wearable, filed paperwork on Thursday for an initial public offering in the United States.

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Coinbase, the largest U.S.-based crypto exchange, is seeking SEC approval to list equity products that would trade around the clock, as perpetual products gain momentum.

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Blackstone Inc. has limited redemptions from its flagship private credit fund for a second straight quarter, offering an early sign of persistent pressure in the $1.8 trillion market.

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Blackstone’s $43bn flagship fund said investors submitted notices in the third quarter seeking to withdraw an amount equal to 10% of the vehicle’s value.

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