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(Bloomberg) -- Federal Reserve Bank of Richmond President Thomas Barkin said the US economy is in good shape, though it’s unclear whether the labor market is getting back to normal rates of hiring or more seriously deteriorating.Most Read from BloombergSinger Akon’s Multibillion-Dollar Futuristic City in Africa Gets Final NoticeValencia Follows Barcelona in Crackdown on Short-Term RentalsWhat a Beautiful Bus Stop Can DoA Vast Wetland Park Seeks to Slake a Thirsty MegacityUber and Lyft Strike NYC

(Bloomberg) -- The selloff in stocks intensified and bond yields tumbled as a weak jobs report fueled worries that the Federal Reserve’s decision to hold rates at a two-decade high is risking a deeper economic slowdown.Most Read from BloombergSinger Akon’s Multibillion-Dollar Futuristic City in Africa Gets Final NoticeValencia Follows Barcelona in Crackdown on Short-Term RentalsWhat a Beautiful Bus Stop Can DoA Vast Wetland Park Seeks to Slake a Thirsty MegacityUber and Lyft Strike NYC Deal to S

Is Archer Aviation stock poised to soar in the near future?

Global hedge funds continued to add bearish equity bets to portfolios in the week to Aug. 1 when fresh data sparked fears the U.S. economy is slowing faster than anticipated, Goldman Sachs said in a note to clients. It marks the third consecutive week that hedge funds' bets that stocks will fall outpaced the addition of long positions, Goldman said, noting one long position was added for every 3.3 short bets. The Nasdaq Composite fell into correction territory on Friday after economic data for two consecutive days pointed to a faster-than-anticipated slowdown.

A double miss on quarterly estimates displeased the market greatly.

A pundit's new take on the company inspired some investors to pile into it.

"Our view is betting against Cook and Cupertino into an AI-driven supercycle led by iPhone 16 and Apple Intelligence is the wrong move," Wedbush said.