US stocks mostly lower with rising volatility, yields

ANKARA

Major indexes in the US stock market opened mostly lower on Thursday, retreating from record highs in the previous session as volatility returned and Treasury yields continued to climb.

The Dow Jones was up 30 points to 33,045 at 9.40 a.m. EDT (1340GMT) with Goldman Sachs and JPMorgan each adding around 2%.

While the S&P 500 was down 20 to 3,953, the Nasdaq fell 1.5% to 13,350 as Tesla shed 2.4% and Zoom Video plummeted 4%.

Despite falling from a high on Wednesday, the VIX volatility index, also known as the fear index, was up 3.8%, nearing the 20 threshold.

The 10-year Treasury yields have continued to increase, adding another 6.4% to reach 1.745%.

The Dow Jones and the S&P 500 reached all-time high levels after the Federal Reserve improved projections for US economic growth on Wednesday.

The central bank expects the world's largest economy to expand 6.5% in 2021, up from its previous estimate of 4.2% made in December.