Risk-sensitive assets fell on Friday after U.S. President Donald Trump declared there would be “no deal with Iran except unconditional surrender,” sending WTI crude oil up 11% to nearly $90 per barrel. Nasdaq futures dropped 1.8%, and Bitcoin declined 5% to $68,800. The market reaction was compounded by weaker-than-expected U.S. job data showing a loss of 92,000 positions in February and a 4.4% unemployment rate, revealing signs of an economic slowdown. Despite the soft figures, traders still see only limited chances of imminent rate cuts by the U.S. Federal Reserve (the central bank).