May 01, 2024 (MENAFN via COMTEX) --
(MENAFN) On Tuesday, the US stock market opened on a downward trajectory, with major indices showing declines in early trading. The Dow Jones Industrial Average dropped 175 points, marking a decrease of 0.46 percent, settling at 38,212 as of 10:18 a.m. EDT (1418 GMT). Similarly, the broader S&P 500 index fell by nine points, or 0.18 percent, to 5,107, while the tech-heavy Nasdaq Composite also experienced a decline of 30 points, or 0.18 percent, reaching 15,955.
Investor sentiment, as measured by the VIX volatility index, commonly referred to as the "fear index," showed a slight uptick, rising by 0.4 percent to 14.73. Meanwhile, the yield on the 10-year US Treasury note saw an increase of 0.8 percent, reaching 4.652 percent, reflecting fluctuations in the bond market.
In currency markets, the US dollar strengthened marginally, as indicated by a 0.3 percent rise in the dollar index to 105.89. Conversely, the euro experienced a minor decline of 0.03 percent, trading at USD1.0716 against the greenback.
The commodities market witnessed a downward trend, with precious metals registering losses. Gold prices trimmed by 1.4 percent to USD2,304 per ounce, while silver fell by 2.4 percent to USD26.48 per ounce.
Oil prices also faced downward pressure, with both global benchmark Brent crude and US benchmark West Texas Intermediate (WTI) crude declining by around 1.8 percent. Brent crude slipped to USD85.61 per barrel, while WTI crude stood at USD81.12 a barrel. These movements in commodity prices reflect ongoing volatility and uncertainty in global markets, influenced by factors such as geopolitical tensions, supply-demand dynamics, and economic indicators.
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COMTEX_451739343/2604/2024-05-01T17:17:33
