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Analysis Economy Forex Forex News News Spotlights

DJI: Dow Jones Tumbles as Economic Concerns Rear Up

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The 30-stock Wall Street average snapped four straight days of winning as new data sparked worries.

Dow Jones Industrial Average declined on Tuesday after a couple of US reports indicated the job market is tightening. The blue-chip stock benchmark fell 0.6%, together with the S&P 500’s 0.6% slide and the Nasdaq’s 0.5% drop, breaking a four-day rally.

In the US, the health of the economy was shaken when fresh economic data pointed out that job openings fell to 9.9 million in February, the lowest since 2021. The figures were sharply lower from January’s 10.6 million, suggesting a slowdown in the labor market.

The cooling off was pretty much expected, and largely a result of the aggressive rate-hike campaign from the Federal Reserve. Still, a decrease in the number of job openings might mean that Friday’s nonfarm payrolls could tell a story vastly different from analysts’ estimates.

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