Bear-baiting is illegal in a majority of states that allow bear-hunting, but on Wall Street it's happening right out in the open. The markets have dangled in front of the bear den a weaker-than-hoped jobs report Friday, which took its three-month average payroll gain to minimal levels mostly seen ahead of recessions. Nvidia , the biggest stock in the universe and the principal vehicle of this bull market's most propulsive theme, has fallen 8% and cracked below its 50-day average in seven trading days since posting a stellar quarter. Bitcoin has traced out a similar pullback pattern in breaching the same trend line, falling 10% from its August peak. The most-coveted initial public offerings of recent months have been wretched since their Roman-candle rallies upon first listing: Figma , Circ

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