ARTICLE

Global markets closed the week in turmoil, with a trifecta of weak jobs data, renewed trade tensions, and oil price fluctuations spooking investors. The Dow Jones Industrial Average plunged over 500 points on Friday, its steepest decline since April, as a disappointing U.S. jobs report fueled recessionary fears and the Trump administration's reshuffling of tariffs heightened trade uncertainty. This sentiment was mirrored across the Atlantic, where European stocks suffered their worst session in months. Market volatility, as measured by the VIX index, surged by over 21%, reflecting a heightened sense of risk among traders. The week's economic data, particularly the weak U.S. payrolls report, has significantly increased bets on a potential Federal Reserve rate cut. This speculation sent the dollar tumbling while bolstering gold prices, which rose by 2% as a traditional safe haven asset. Meanwhile, oil prices were hit by a double-whammy: falling demand expectations and the possibility of increased production from OPEC, leading U.S. crude to tumble more than 2%. The bearish sentiment extended to Asia-Pacific markets, which also retreated in the wake of the latest tariff developments. The Jakarta Composite Index (JCI) closing up 53.43 points (0.71%) to 7,537.7. Market participants are now keenly awaiting upcoming reports on Indonesia's GDP, foreign exchange reserves, consumer confidence, retail sales, and automotive sales.