Markets were mixed today as global data and policy shifts shaped sentiment. In the US, job growth surprised to the upside, but rising unemployment and AI-driven labor disruptions kept caution in play.
Asia delivered some of the biggest moves: China and India edged closer to complying with US sanctions on Russian oil, while India’s stock markets hit fresh highs on strong earnings momentum.
Meanwhile, Bitcoin extended its month-long slide, slipping below $87,000 amid renewed volatility.
A glance at the major developments on Thursday.
AI slowdown hits labor market
The latest US jobs report came in with a bit of a mixed message. On the one hand, the economy added 119,000 jobs in September, better than what analysts were expecting.
But on the other hand, the unemployment rate ticked up to 4.4%, which is the highest we’ve seen in about four years. That rise suggests the labor market is starting to lose some steam.
Economists say part of the slowdown is tied to the growing use of AI, which is cutting into demand for some entry-level positions.
And compared to past years, the economy now needs fewer new jobs each month just to keep up with the working-age population.
Some industries are even starting to see job cuts, and the overall report could play a role in how the Federal Reserve thinks about interest rates going forward.
China, India shift on Russia sanctions
US Treasury officials say that major banks and refineries in China and India are starting to fall in line with American sanctions on Russia’s big oil companies, including Lukoil and Rosneft.
The goal of these sanctions is to squeeze the revenue Russia uses to fund its war in Ukraine.
China and India, two of Russia’s biggest oil customers, are being careful here. They don’t want to risk running into US secondary sanctions, so they’re slowly adjusting how they operate.
In India, companies are double-checking where their oil is coming from to make sure they’re not violating any rules.
A few of the country’s big state-owned firms have even signed new supply deals to reduce how much Russian oil they rely on.
Overall, it’s a sign that both countries want to keep their energy options open without jeopardising their relationships with Western partners.
Indian markets hit new highs
India’s stock market is on a roll again. Both the Sensex and Nifty climbed to fresh 52-week highs, thanks to a renewed wave of foreign investor interest and growing confidence in corporate earnings.
A few things are lifting the mood: progress in US–India trade discussions, stronger-than-expected results from big companies, and upbeat earnings forecasts for 2026.
Financial and industrial blue-chip stocks were among the biggest winners, while parts of the IT and consumer sectors didn’t keep up as well.
Analysts say the rally still has room to run. They point to structural reforms, rising capital spending, and a wider base of investors helping fuel long-term growth.
With earnings improving, many see India’s equity markets as increasingly resilient and valuations looking more justified than before.
Bitcoin drops below $87K
Bitcoin just slipped below $87,000, the first time it’s dipped that low since April, falling more than 4% and continuing a month-long slide.
A mix of factors is driving the drop: ongoing regulatory uncertainty, broader economic pressures that are weighing on risky assets, and some tough technical resistance levels that Bitcoin hasn’t been able to break through.
Analysts say the sell-off picked up after October’s huge rally, which left the market ripe for a correction. With volatility climbing again, sentiment has definitely turned more cautious.
Still, not everyone is spooked. Some investors view the pullback as a chance to buy in at a discount.
But as always with crypto, timing a rebound is easier said than done, especially in a market that can swing wildly from one week to the next.
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