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The stock market is headed for a 10% correction as the job market slows and inflation stays sticky, Stifel stock chief says

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Stifel's Barry Bannister says the S&P 500 could see a 10% drop by the end of the year .

The slowing job market and potential for sticky inflation are headwinds, he says.

Interest rates likely won't drop below 3% without an economic slowdown, he added.

Investors are looking for signs of continued economic weakness, he said.