US stocks kick off September with major losses

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened Tuesday with major losses to kick off the month of September on a lower note.

The Dow Jones fell 436 points, or 1.05%, to 41,128 at 10.10 a.m. EDT (1410GMT). The blue-chip index, which includes 30 prominent American companies, rose almost 1.8% in August and posted its fourth straight winning month.

The S&P 500, meanwhile, decreased 66 points, or 1.18%, to 5,580 after the index soared 2.3% last month.

The Nasdaq plummeted 289 points, or 1.63%, to 17,424. The tech-heavy index rose 0.7% for the month of August.

The VIX volatility index, also known as the fear index, jumped 15.5% to 17.97. The 10-year US Treasury yield fell 2.2% to 3.824%.

The dollar index declined 0.03% to 101.62, while the euro decreased 0.21% to $1.1048 against the greenback.

Precious metals were in the red, with gold losing 0.76% to $2,480 per ounce and silver diving 2.4% to $27.85.

Oil prices plummeted around 4%, with global benchmark Brent crude at $74.19 and US benchmark West Texas Intermediate at $70.72.