US stocks end lower ahead of Powell, jobs data; bitcoin surges


A street sign for Wall Street hangs in front of the New York Stock Exchange

NEW YORK: Wall Street stocks closed lower on Monday, backing away from record highs, while U.S. Treasury yields ticked higher as investors looked ahead to key jobs data and Federal Reserve Chair Jerome Powell's congressional testimony later in the week.

Bitcoin was being closely watched as the cryptocurrency inched closer to its first record high since November 2021.

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