Economy

US stock market opens lower ending rally

As investors' sentiment turn negative, VIX volatility index rises 6%

18.10.2021
US stock market opens lower ending rally

ANKARA

US stock exchanges opened lower on Monday with significant losses, ending their strong rally recorded last week.

The Dow Jones was down 220 points, or 0.62%, to 35,074. Last week, the blue-chip index posted a weekly gain of 1.57%, recording its largest weekly increase since June.

The S&P 500 fell 16 points, or 0.36%, to 4,455. It increased 1.82% last week, posting its best performance since July.

The Nasdaq declined 22 points, or 0.15%, to 14,875 at 9.44 a.m. EDT. The tech-heavy index jumped 2.17% last week.

As investors' sentiment turned to negative, the VIX volatility index, known as the fear index, was up 6% to 17.28.

The dollar index was almost at 93.96, while the yield on 10-year US Treasury notes rose 2.1% to 1.610%.

Oil prices were on the rise again with international benchmark Brent crude trading at $85.45 with a 0.7% gain, and US benchmark West Texas Intermediate was at $82.64 -- a 1.1% increase.

Precious metals were down with gold losing 0.14% to $1,765 per ounce and silver trimming 0.8% to $23.10.

After hitting $60,000 on Friday for the first time in six months, since April 18, price of Bitcoin was trading around $61,300 for a 0.6% gain.

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