US stocks close higher to regain some of previous days' losses

By Ovunc Kutlu

ISTANBUL (AA) - US stocks closed higher Tuesday to regain some of the previous days' losses as recession fears pushed global markets into a freefall.

The Dow Jones Industrial Average was up 294 points, or 0.76%, to finish at 38,997 after diving 2.6% Monday and 1.51% Friday.

The S&P 500 rose 53 points, or 1.04%, to end the session at 5,240 after plummeting 3% the previous session and 1.84% at the end of last week.

The Nasdaq, meanwhile, added 166 points, or 1.03%, to 16,366 after the tech-heavy index took a nosedive of 3.43% Monday and 2.43% Friday.

The VIX volatility index, also known as the fear index, plummeted 28.2% to 27.71 after jumping 59% to 37.20 Monday.

The 10-year US Treasury yield increased 0.8% to 3.887% after falling Monday to its lowest since July 2023.

The dollar index rose 0.23% to 102.93, while the euro remained unchanged at $1.0930 against the greenback.

Precious metals were in negative territory, with gold losing 0.05% to $2,388 per ounce and silver falling 0.22% to $26.91.

Oil prices were down around 0.3%, with global benchmark Brent crude at $76.13 per barrel and US benchmark West Texas Intermediate at $72.82.