
Employment Revisions Reveal Hidden Economic Weakness
The S&P 500 fell 2.36% this week as markets grappled with tariff uncertainty and shocking employment revisions. May and June job gains were revised down by a combined 258,000—revealing the labor market was far weaker than previously reported. With reciprocal tariffs taking effect Wednesday and inflation already climbing to 2.6%, the Fed faces a challenging policy environment despite maintaining rates at 4.25%-4.5%.