US stocks open lower after disappointing GDP figure released

ISTANBUL

US stocks opened with losses n Wednesday as the advanced GDP figure for third quarter was lower than expectations, disappointing investors.

The Dow Jones industrial average fell 18 points, or 0.04%, to 42,214 as of 9.41 a.m. EDT (1341GMT).

The S&P 500 was down 14 points, or 0.25% to 5,818. The Nasdaq Composite lost 56 points, or 0.3%, to 18.655.

The American economy expanded 2.8% in the third quarter, according to the Commerce Department's first advance reading that was released earlier. The figure was lower than estimates of 3%.

The VIX volatility index, referred to as the "fear index," jumped 5.2% to 20.34. The 10-year US Treasury yield lost 1% to 4.230%.

The US dollar index was steady at 104.31, while the euro rose 0.1% against the dollar, trading at $1.0830.

Precious metals were mixed. Gold added 0.05% to $2,776 per ounce, but silver fell 2.4% to $33.63.

Oil prices increased 1.2%, with global benchmark Brent crude at $71.56 per barrel and US benchmark West Texas Intermediate at $67.97.