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Major U.S. equity indices shed over 1% in the wake of the release of ADP private payrolls, which indicates the labor market is tight in support of a hawkish Fed. However, there have been significant divergences between ADP private payrolls and nonfarm payrolls in the post-pandemic era. Thus the labor market situation may turn clearer after Friday’s release of nonfarm payroll data. Meanwhile, the broader cryptocurrency market behaved unimpressively, with Bitcoin and Ether up 0.38% and 0.01%, respectively, in the past 24 hours. The top mover for today, CHZ, which registered a 24-hour return of 7.05% as of the time of writing, has outperformed the market, likely due to UPbit’s listing.