US stock exchanges start lower due to slump fears| MENAFN.COM

Saturday, 02 July 2022 09:10 GMT

US stock exchanges start lower due to slump fears


(MENAFN) Stock exchanges in the United States fell on Tuesday as fears of a recession grew as the Federal Reserve raised interest rates again.

The Dow Jones Industrial Average stood at 31,741 points, dropping by 138 points from its previous ending. Moreover, the S&P 500 index dropped by 47 points to hit 3,933, whereas the Nasdaq declined by 208.6 points to reach 11,326.

At GMT1412, the VIX volatility index, sometimes known as the fear index, jumped by 6.11 percent to 30.22. To hit 101.8, the dollar index fell by 0.25 percent as well as Silver increased by 0.1.3 percent to USD22 whereas gold rose by 0.86 percent to hit USD1,863.7.

At 1350GMT, global oil benchmark Brent crude was up 0.34 percent to hit USD111.1, whereas West Texas Intermediate was up 0.22 percent to reach USD110.5.

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