Övünç Kutlu
December 08, 2022•Update: December 08, 2022
ISTANBUL
US stocks ended mostly lower Wednesday as investors worried over a steeper rate hike from the Federal Reserve next week.
The S&P 500 ended lower for a fifth consecutive day, losing 7.34 points, or 0.2%, to finish at 3,933.92. The tech-heavy Nasdaq fell for the fourth day in a row, shedding 56.34 points, or 0.5%, to 10,958.55.
The Dow Jones Industrial Average, on the other hand, ended slightly higher, rising 1.58 points, or 0.0047%, to 33,597.92.
All three indexes have mostly posted major losses since last Friday, when job figures in November coming above market estimates fueled fears of a higher rate hike from the Fed.
The VIX volatility index, also known as the fear index, added 1.8% to 22.57. The 10-year US Treasury yield, however, fell 2.7% to 3.417%.
The dollar index lost 0.4% to 105.16, while the euro added 0.4% to $1.0512 against the greenback.
Precious metals were up, with gold adding 0.9% to $1,787 per ounce and silver soaring 2.4% to $22.73.
Oil prices dove more than 2%. Global benchmark Brent crude was trading at $77.45 per barrel for a loss of 2.4%, while US benchmark West Texas Intermediate crude was around $72.39, down 2.5%.
