US stock market closes with losses

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US closed Monday with losses.

The Dow Jones Industrial Average fell 274 points, or 0.71%, to finish at 38,380 after the blue-chip index gained 1.5% last week.

The S&P 500 lost 15 points, or 0.32%, to end the session at 4,942 after posting an increase of 1.4% last week.

The Nasdaq, meanwhile, decreased 31 points, or 0.2%, to close at 15,597 after a weekly gain of 1.7%.

Last week, all three exchanges posted their fourth consecutive weekly gains.

The VIX volatility index, also known as the fear index, fell 1% to 13.71, while the 10-year US Treasury yield jumped 3.4% to 4.169%.

The dollar index increased 0.5% to 104.44, while the euro lost 0.4% to $1.0741 against the greenback.

Precious metals were in the red, with gold trimming 0.75% to $2,024 per ounce and silver decreasing 1.5% to $22.34.

Oil prices were in positive territory, with global benchmark Brent crude rising 0.9% to $78.04 per barrel and US benchmark West Texas Intermediate crude increasing 0.8% to $72.84 a barrel.