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US stocks snap 4-day winning streak as job openings fall and JPMorgan boss warns of more bank turmoil

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  • US stocks snapped a four-day win streak on Tuesday as investors worry about the direction of the economy.
  • Job openings fell below 10 million last month to the lowest level in nearly two years.
  • Meanwhile, JPMorgan CEO Jamie Dimon warned investors that the US banking crisis is not over.

US stocks fell on Tuesday, ending a four-day win streak after new data hints at a slowing economy.

Job openings in the US unexpectedly fell 632,000 to 9.93 million, representing the lowest level since May 2021. There are now 1.7 job openings for every unemployed American looking from a job, down from a peak of 2.0 just a few months ago.

Additionally, ISM Manufacturing data showed a decline to 46.3 in March, representing the lowest level since May 2020 and signaling that the manufacturing sector is in contraction mode. 

Investors also weren’t thrilled about what JPMorgan CEO Jamie Dimon had to say in his annual shareholder letter, in which he warned that the banking crisis is not yet over.

Here’s where US indexes stood shortly at the 4:00 p.m. ET close on Tuesday:

Here’s what else happened today: 12,126.33, down 

In commodities, bonds and crypto:

  • West Texas Intermediate crude oil fell 0.12% to $80.32 per barrel. Brent crude, oil’s international benchmark, dropped 0.40% to $84.59.
  • Gold rose 1.91% to $2,038.60 per ounce.
  • The yield on the 10-year Treasury fell seven basis points to 3.35%.
  • Bitcoin jumped 0.93% to $28,129, while ether jumped 3.11% to $1,865. 
Read the original article on Business Insider
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