US stocks open lower with growth figure revised down

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened lower Wednesday as economic growth in the last quarter was revised down slightly.

The Dow Jones fell 221 points, or 0.54%, to 38,761 at 9.39 a.m. EDT. The S&P 500 lost 13 points, or 0.27%, to 5,064.

The Nasdaq, meanwhile, decreased 64 points, or 0.4%, to 15,971.

The US economy expanded 3.2% in the fourth quarter, according to the Commerce Department's second reading. The figure was revised down from the first reading of 3.3% made last month.

The VIX volatility index, also known as the fear index, rose 1.5% to 13.64, while the 10-year US Treasury yield lost 0.16% to 4.309%.

The dollar index added 0.18% to 104.01, while the euro shed 0.16% to $1.0827 against the greenback.

Precious metals were mixed, with gold adding 0.14% to $2,033 per ounce but silver decreasing 0.22% to $22.40.

Oil prices showed small gains, with global benchmark Brent crude rising 0.34% to $82.94 per barrel and US benchmark West Texas Intermediate crude increasing 0.7% to $79.43.