It’s been a brutal week on the sharemarket. Now come the aftershocks

Investors are bracing for turbulence following one of the most brutal weeks for shares since the COVID-19 pandemic, despite a global rally as better-than-expected jobs figures in the United States soothed anxiety about a rapid economic deterioration.

The S&P 500 surged 2.3 per cent on Thursday night in its biggest rally since November 2022, and the S&P/ASX 200 jumped 1.3 per cent on Friday after data showed that weekly jobless claims fell by the most in nearly a year. US stock futures also rose, indicating the recovery will extend onto Wall Street.