Sawt Falasteen - Stocks mixed as markets weigh weaker data, odds of interest rate pause

Analysts cited data showing a drop in US job openings as the latest indication of cooling in the world's biggest economy -- following weak manufacturing numbers on Monday.

Investors also took note of a concerning shareholder letter from JPMorgan Chase Chief Executive Jamie Dimon, who warned the banking crisis "is not yet over" and said inflation could linger at high levels, extending the period of higher interest rates.

But the yield on the 10-year US Treasury note, a proxy for Federal Reserve policy, fell decisively.

"The time for pause and consideration may have arrived," said Craig Erlam, senior market analyst at brokerage firm OANDA. "We may see most now proceed with caution and only tighten if absolutely necessary."

Following a mixed day on European and Asian equity markets, US stocks opened near flat but later weakened.

The S&P 500 ended 0.6 percent lower with industrial and financial shares among the hardest-hit.

"The stock market did not respond favorably to the drop in yields due to the sense that a weakening economic backdrop will translate to further cuts in earnings estimates," said Briefing.com.

Market watchers said the media focus on former US president Donald Trump's pleading in a state criminal proceeding probably crimped trading volumes but did not affect the market's trajectory.

"While it's historic and likely has a lot of eyeballs on it, it's very difficult to draw a direct economic impact," said Art Hogan, an analyst at B. Riley Financial, of the proceedings.

Elsewhere, the pound reached a 10-month high against the dollar on recent strong UK data, bolstering expectations that the Bank of England would continue to raise interest rates to cool sky-high inflation.

The uncertain outlook spurred demand for gold, which set a high for the year by rising two percent to $2,040, "supported by renewed weakness in bond yields and US dollar," said market analyst Fawad Razaqzada at Stone X.

- Key figures around 2030 GMT -

New York - Dow: DOWN 0.6 percent at 33,402.38 (close)

New York - S&P 500: DOWN 0.6 percent at 4,100.60 (close)

New York - Nasdaq: DOWN 0.7 percent at 12,126.33 (close)

London - FTSE 100: DOWN 0.5 percent at 7,634.52 (close)

Paris - CAC 40: FLAT at 7,344.96 (close)

Frankfurt - DAX: UP 0.1 percent at 15,603.47 (close)

EURO STOXX 50: UP 0.1 percent at 4,315.32 (close)

Tokyo - Nikkei 225: UP 0.4 percent at 28,287.42 (close)

Hong Kong - Hang Seng Index: DOWN 0.7 percent at 20,274.59 (close)

Shanghai - Composite: UP 0.5 percent at 3,312.56 (close)

Euro/dollar: UP at $1.0963 from $1.0908 on Monday

Pound/dollar: UP at $1.2498 from $1.2420

Euro/pound: DOWN at 87.65 pence at 87.79 pence

Dollar/yen: DOWN at 131.65 yen from 132.35 yen

Brent North Sea crude: FLAT at $84.94 per barrel

West Texas Intermediate: UP 0.4 percent at $80.71 per barrel

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