Software's Slide, Bitcoin's Blowup, Job Market's Meltdown

Three major themes dominated this week's market narrative: the steep selloff in software stocks, Bitcoin's volatile price action, and growing concerns about cracks in the labor market.

Software stocks took a beating after several high-profile names missed revenue estimates and provided weak guidance. The IGV software ETF fell 8% at its worst point this week before recovering somewhat on Friday.

Meanwhile, Bitcoin experienced its sharpest intraday drop since the FTX collapse before recovering, highlighting the crypto market's persistent fragility despite institutional adoption narratives.