Gokhan Ergocun
22 August 2022•Update: 22 August 2022
ISTANBUL
US stocks ended the first transaction day of the week with declines amid concerns related to the Federal Reserve’s interest rate moves.
The Fed minutes showed last week that interest rate hikes will continue in the near term until inflation drops significantly.
The blue-chip Dow Jones Industrial Average fell by 641.22 points, or 1.9%, to 33,065.52.
The S&P 500 decreased by 90.11 points, or 2.13%, to 4,138.37.
The tech-heavy Nasdaq was down by 323.64 points, or 2.55%, to 12,381.57.
The VIX volatility index, also known as the fear index, soared by over 4% to 24.61.
The 10-year US Treasury yield increased 1.41% to 3.03%.
The dollar index was up 0.73% to 108.88.
Precious metals went down, with gold falling 0.82% to $1,748.45 an ounce and silver decreasing 1.08% to $18.86.
Global benchmark Brent crude was flat at $96.69 per barrel, while US benchmark West Texas Intermediate (WTI) crude was at $90.55.
