Global markets experienced heightened volatility last week, with equities posting further declines and continuing their worst run since the tariff-driven sell-offs in April. The technology sector, particularly AI-related stocks, faced renewed profit-taking and bubble concerns, despite strong earnings from NVIDIA. Ambiguity around the Federal Reserve’s next policy move added to market uncertainty, expectations around the Fed’s action at December’s meeting have been shifting wildly. U.S. Treasury yields slipped late in the week as expectations for a December rate cut rose sharply. The delayed September jobs report showed solid hiring but a rising unemployment rate, further muddying the economic outlook. Bitcoin suffered a steep sell-off, ending the week below $85k well off its October $12k high. Amid these swings, the importance of diversification becomes apparent.