Global stock markets experienced significant sell-offs following disappointing U.S. jobs data which revealed a slowdown in hiring and a rise in unemployment to a near three-year high of 4.3%. Japan's Nikkei 225 saw its largest drop in over three decades, falling by 12.4%, while South Korea's Kospi index dropped by 8.7%. In Europe, the STOXX 600 index fell nearly 3%, with the technology sector suffering its largest decline since October 2020. Analysts are increasingly fearing a potential recession, with experts noting that signals of economic weakness are mounting, including drops in bond yields and commodity prices. U.S. stock futures indicated further losses, with traders pricing in a higher likelihood of a significant interest rate cut by the Federal Reserve in the coming months. The overall market reaction reflects deepening concerns about the sustainability of the global economic recovery amid high interest rates and softening economic indicators.