Dow posts lowest fall in 7 months as US shares drop over 1 percent

(MENAFN) The Dow suffered its worst daily drop since March as US stocks closed with substantial losses on Tuesday. The blue-chip index lost nearly 431 points, or 1.29 percent, ending the session at 33,002, plunging into negative territory for the year.

The S&P 500 fell by almost 59 points, a 1.37 percent decline, closing at 4,229. The Nasdaq also experienced a significant drop of 248 points, a 1.87 percent decrease, settling at 13,059. Meanwhile, the VIX, or fear index, surged by 12.4 percent to 19.80.

On the other hand, the 10-year US Treasury yield increased by 2.6 percent to 4.810 percent, marking its highest level in more than 16 years. The dollar index saw a modest 0.1 percent increase, reaching 107.00, while the euro dipped by 0.06 percent to USD1.0470 against the US dollar.

In the realm of precious metals, gold declined by 0.2 percent to USD1,824 per ounce, while silver increased by 0.76 percent to USD21.21. Oil prices posted a 0.6 percent gain, with the global benchmark Brent crude at USD91.13 per barrel and the US benchmark West Texas Intermediate crude at USD89.56.

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