Polymarket traders cut the probability of a 25-basis-point Federal Reserve rate hike in October to 16% on Friday from about 69% on Monday. The shift followed a September jobs report showing just 29,000 new positions versus economists’ 90,000 forecast, alongside an unemployment increase to 4.2% from 4.1% and slower wage growth. Earlier payroll estimates were also revised lower. Cautious comments from New York Fed President John Williams and Fed Vice Chair Philip Jefferson, together with softer inflation data, had already weakened the case for an October increase. Traders still assigned about 68% odds to a 25-basis-point hike in December. Stocks advanced as rate expectations fell, with SPY up about 1% and QQQ gaining 1.5% Friday morning.