Major US stock markets closed lower on Friday as traders digested a stronger-than-expected employment report and its implications for monetary policy in the future. Tesla Inc. led the day’s declines after it was learned that Elon Musk is considering a hiring freeze and a 10% job cut. Nonfarm employment in the United States increased by 390,000 in May, as reported by the country’s Bureau of Labor Statistics. Traders likely reacted to the rate hike move with fears that the Federal Reserve will tighten monetary policy. The benchmark 10-year Treasury yield rose following the report above 2.97%. The Dow Jones Industrial Average lost 1.05% or 348 points at the close, with Apple sinking 3.86%. The Nasdaq 100 fell 2.67%, losing 344 points, while Tesla closed 9.22% down. The S&P 500 declined 1.65%. The euro fell 0.25% against the dollar at 3:58 pm ET, selling for $1.07202. NN: Wall street is becoming obviously very negative… Musk rat has a bad feeling…. Really this is a man who believes he is a alien and is the man from mars. SO excuse me if i pay no mind to his “super bad feeling” it might be a result of martian death rays. OR to much sushi and Champaign. And if that was enough to not want me to prepare for a rally back…… Jamie Dimon, the Head Of Largest US Bank, (no longer in the world Dubai took care of that burden) Predicts “Economic Hurricane” In Next Few Months. Well hells bells. As you know i am predicting a full blown depression. It will be a nuclear blast compared to Jamie’s hurricane. But before then i expect many bear market rally backs. And when wall street turns negative most often the marker does a zoom zoom albeit temporary in nature. In the mean time i feel like i am being diced and sliced in a food processor.