Is market this bad?

Hi folks, looking seriously for a job switch in a strategy role. Highlights about myself: -> I have ~ 3.5 years of work ex. -> Entrepreneurial stint in the wealth management space where we were trying to build an AI assistant to automate everyone' s personal finance. -> MBA From ISB post closing the startup due to regulatory slowdown -> Wanted to get a strategy/ PM role in the campus placement but, due to market conditions, got a job as program manager in a lending startup. I had high hopes from it but it turned out to be utter disappointment on many levels. I know the market is not great right now but I am optimistic that it's not that bad. Any help or referral would be really appreciated:)

I have been applying for new positions since March and haven't got single interview call. I have 3 years of experience and currently working in service-based company. I reached people for reference and got referred to some companies but still no response. I want to blame market but I see people switching daily.

Why are they laying off despite the market boom? Especially azure

What do you guys think is the reason behind the job market being at its lowest level since past 6-7 months ? (P.s- i made a horrible mistake by joining a cpa outsourcing startup , I'm not been assigned any client for the past one year also they have not given me any kind of training. I'M FUCKING TRAPPED !!)

Do you think the worst for the job market is yet to come?

I can't even seem to get an interview anywhere. There are no job openings. What is happening!?

Today, the markets have been bleeding across USA, Japan, India due to number of reasons contributing to it. War between iran- Israel, unemployment rate in USA going up, increase in interest rates in Japan which led to the worst decline of their stock markets in history. We were thinking that since now openings are coming up, situation could improve. Will the situation get worse from here in the upcoming days or is it too early to say?

I was talking with one of my friend regarding his job switch plans. He's trying since 4 months and applied to hundred's of opportunities. Of all those, only a handful he got some replies and of them just two interview schedule had happened. One of the interview he cleared and even then the company put him on hold for 2 weeks and later the company moved ahead with some other candidate(maybe the other candidate was asking for less pay).

Since the start of this month, I have been applying for different opportunities but haven't received a response from any of them. I am currently a backend developer with 3.5 years of experience at a Fortune 30 company and have been promoted for two consecutive years. I also don't want to use referrals right now because I'm completely unprepared. If you are in job hunt please share your experience.

Hired for golang made to php because they replaced whole team with new hires for golang only stuff. Seeing php and reading documents and code I feel like quieting. Compromised on brand name, pay and work in the current company. I thought okay if joining on 14% hike but the work is in golang atleast for this market quality of work will be better. But now getting none. Market seems to be bad if I quiet it might increase the career gap to a year. How to keep urself calm and compose from all these shits?