US stock market opens lower with decline in tech shares

VIX volatility index up 8%

Ovunc Kutlu   | 04.05.2021
US stock market opens lower with decline in tech shares


US stocks opened lower on Tuesday as tech shares reversed course from the previous session to start the day in the red.

The Dow Jones was down 59 points to 34,054 at 9.40 a.m. EDT (1340GMT) with Intel losing 0.5%. The S&P 500 fell 25 to 4,166 as Tesla was down 3.5%.

The Nasdaq shed 177, or 1.3%, to 13,717 with Airbnb and Amazon falling 2.6% and 2.3%, respectively. The US' largest crypto exchange platform, Coinbase, was down 1.1% due to losses in cryptocurrencies.

Bitcoin declined to $55,700, down 4.9%, but the biggest altcoin, Ethereum, continued its climb and was trading above $3,500 on a 12% gain.

Gold was flat at $1,791 per ounce and silver increased 0.1% to $26.9.

The VIX volatility soared once again, creating uncertainty for investors. The fear index was up 8% to 19.77 after the opening bell.

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