US stock market closes with losses as volatility persists

By Ovunc Kutlu

ANKARA (AA) - US stocks market closed Wednesday lower for the third consecutive day as high volatility continues to put pressure on investors' risk appetite.

The Dow Jones was down 164 points, or 0,5%, to 33,896 with investment banking majors Goldman Sachs and Morgan Stanley falling 1.7% and 1%, respectively.

The S&P 500 fell 12 points, or 0.3%, to 4,115 with Tesla plummeting 2.5%. The Nasdaq was remained almost unchanged by shedding only 4 points to 13,299 with Twitter falling 0.5% but Facebook gaining 1.1%.

The VIX volatility index was up 4.3% to 22.25, while the US dollar index gained 0.5% to 90.19.

Bitcoin made a dip below $29,000 earlier before recovering up to just below the $40,000 resistance level as investors question whether the world's largest cryptocurrency by market cap is making a correction from its peak of $64,300 last month, or it has entered the bear market territory since losing around 50% from that level.