The latest ADP National Employment Report indicates that the private sector in the US added just 37,000 jobs in May, marking the lowest figure in over two years and falling short of forecasts. This significant slowdown in hiring has raised concerns among economists about a potential hiring freeze influenced by ongoing trade wars. Stocks have reacted with uncertainty, as futures traded lower following this downbeat employment data. Despite some initial gains in the stock market, the overall sentiment remains cautious with implications for rates and market stability, drawing criticism from former President Trump towards the Federal Reserve.