US manufacturing index plunges to -20.9, layoffs soar, Bitcoin trading surges amidst economic turmoil.

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The latest data from the U.S. NY Empire State Manufacturing Index paints a grim picture, with March’s figures plummeting to -20.9, indicating a rapid decline in the sector. Every indicator spells trouble: new orders dwindle, inventories shrink, employment drops, and optimism wanes, signaling broader economic distress.

Layoffs soar to unprecedented levels, particularly hitting middle managers hard as corporations prioritize efficiency over workforce stability. The Kansas City Fed Labor Market Conditions Index echoes the gloom, indicating a sustained hollowing out of the job market.

Amidst this economic turmoil, a speculative frenzy grips the cryptocurrency market, with a surge in Bitcoin and ETF trading. However, such speculative fervor may exacerbate the impending crisis rather than offer a solution.

As manufacturing falters, layoffs surge, and Bitcoin trading reaches unprecedented levels, the economy teeters on the brink of a dual threat: recession and inflation.