US stocks down to kick off 2024 with losses

ISTANBUL

US stocks opened lower on Tuesday to kick off 2024 with losses, after exchanges managed to finish 2023 with their best performances in years.

The Dow Jones was down 53 points, or 0.14%, to start the day at 37,637 at 9.48 a.m. EDT, after the blue-chip index posted a 13.7% gain for last year.

The S&P 500 fell 33 points, or 0.7%, to begin 2024 at 4,735. The index last week posted its ninth consecutive weekly gain – its longest winning streak since 2004 – as it jumped 24.2% last year.

The Nasdaq was off 240 points, or 1.6%, to 14,770. The tech-heavy index soared 43.4% for 2023 – its highest annual gain since 2020.

The VIX volatility index, also known as the fear index, jumped 12.9% to 14.06. The 10-year US Treasury yield rose 1.86% to 3.926%.

The dollar index rose 0.7% to 102.05, while the euro shed 0.8% to $1.0957 against the greenback.

Precious metals continued their gains, with gold adding 0.3% to $2,069 per ounce and silver gaining 0.6% to $23.93.

Oil prices were mixed, with global benchmark Brent crude rising 0.2% to $77.22 per barrel, but US benchmark West Texas Intermediate crude flat at $71.64.