US stocks open mixed after Fed interest rate hike

ISTANBUL

US stocks opened mixed Thursday, one day after the Federal Reserve's interest rate hike.

The Dow was down 205 points, or 0.6%, to 33,885 at 9.49 a.m. EDT.

The S&P 500, on the other hand, rose 39 points, or 0.94% to 4,158.

The tech-heavy Nasdaq jumped 281 points, or 2.39%, to 12,096.

The Fed raised its benchmark interest rate by 25 basis points Wednesday to fight inflation. “Inflation has eased somewhat but remains elevated,” it said in a statement. The US central bank raised the rate by 425 points last year in seven hikes.

The VIX volatility index, also known as the fear index, was down 2.5% at 17.42, while the 10-year US Treasury yield lost 1% to 3.364%.

The dollar index added 0.36% to 101.58, while the euro lost 0.7% to $1.0917 against the greenback.

Precious metals were mixed, with gold trimming 1% to $1,930 per ounce but silver rising 0.6% to $24.15.

Crude oil prices were down more than 1% with global benchmark Brent crude at $81.84 per barrel and US benchmark West Texas Intermediate crude at $75.53.