Wall Street and European stocks rallied and U.S. Treasury yields surged on Friday as investor risk appetite was strengthened by a strong employment report and signs China is open to tariff negotiations.

Global stock markets rose on Friday as jobs data reassured investors on the US economy, as did indications Beijing and Washington may begin to talk about resolving their tariff standoff.

European Union privacy watchdogs have fined TikTok 530 million euros ($600 million). They say a four-year investigation found that the video sharing app’s data transfers to China breached strict data privacy rules.

TikTok was fined 530 million euros ($600 million) by its lead EU privacy regulator on Friday over concerns on how it protects user information and was ordered to suspend data transfers to China if its processing is not brought into compliance within six months.

TikTok has been hit with a 530 million ($600 million) fine by Irelands Data Protection Commissioner (DPC), its lead EU privacy regulator, over violations of the European Unions data protection rules.

President Donald Trump's administration asked the U.S. Supreme Court on Friday to intervene in its bid to allow the Elon Musk-spearheaded Department of Government Efficiency unfettered access to the U.

President Donald Trump’s administration urged the Supreme Court on Friday to allow Elon Musk’s Department of Government Efficiency to access Social Security Administration data on hundreds of millions of Americans.

An appeals court this week decided that the Department of Government Efficiency did not need access to sensitive Social Security data to carry out its functions.