Stocks mixed as markets weigh weaker data

Global equities were mixed Tuesday as markets mulled over how emerging signs of economic weakness will affect interest rate policies.

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.