Wall Street's most watched gauge of investor anxiety rose to a three-week high on Friday as stock indexes sold off following a an upbeat jobs report that pushed back market expectations for further Federal Reserve interest rate cuts.

The financial services sector is facing disruption as AI technologies threaten to displace a considerable share of its workforce.

The Cboe Volatility Index (VIX) - widely seen as Wall Street's fear and volatility gauge - soared about 9% on Friday to a three-week-high, after the latest job market update led to a big recalibration in Federal Reserve rate cut expectations.

A sharp selloff in the world’s largest bond market sent shockwaves through the U.S. financial markets this week, leaving investors to ponder if that choppiness will persist throughout the new year.

Good morning. Wall Street bonuses will jump by 10% or more. Catastrophic weather drives insured losses higher. And a new side hustle is on the rise: Making job referrals for strangers. Listen to the day’s top stories.