By Tuba Sahin
ANKARA (AA) - Major indices in the US stock market opened broadly flat on Monday amid lingering concerns over inflation and the Russian war on Ukraine.
The Dow Jones fell 94 points or 0.27% to 34,767 at 9.31 a.m. EDT (1331GMT). The S&P 500 was down 5.23 points or 0.12% to 4,537.
The Nasdaq rose 24 points or 0.17% to 14,193.
The VIX volatility index, known as the fear index, climbed 5.72% to 22.00, and the dollar index increased 0.5% to 99.31.
Precious metals were on the decline with gold falling 1.08% to $1,933 per ounce and silver losing 2.06% to $25.1 at 9.55 a.m. EDT (1355GMT).
Oil prices fell on Monday as China starts to implement an eight-day COVID-19 lockdown in its financial capital Shanghai.
Global oil benchmark Brent crude was trading at $108.84, down 7.27%, while US benchmark West Texas Intermediate (WTI) was at $104.86 – a 7.94% loss.
After recording a total of 3,500 COVID-19 infections in Shanghai, China’s most populous city with over 28 million population, health authorities decided to put the city under a two-part lockdown.