US stocks open lower

By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened lower Tuesday.

The Dow Jones was down three points, or 0.01%, to 38,624 at 9.42 a.m. EDT. The S&P 500 fell 29 points, or 0.59%, to 4,976.

The Nasdaq plummeted 170 points, or 1.07% to 15,606.

US producer inflation in January rose 0.9% annually and 0.3% on a monthly basis, both above estimates of 0.6% and 0.1%, respectively, according to Labor Department figures that were released earlier.

The VIX volatility index, also known as the fear index, jumped 5.1% to 15.46. The 10-year US Treasury yield lost 0.6% to 4.268%.

The dollar index fell 0.45% to 103.81, while the euro rose 0.46% to $1.0827 against the greenback.

Precious metals were on the rise, with gold adding 0.4% to $2,026 per ounce and silver increasing 0.35% to $23.06.

Oil prices showed losses, with global benchmark Brent crude trimming 0.5% to $83.15 per barrel and US benchmark West Texas Intermediate crude falling 0.56% to $78.02.