US stocks open mixed after posting major losses

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened Wednesday mixed after posting steep losses in the previous session.

The Dow Jones Industrial Average rose 126 points, or 0.31%, to 41,063 at 9.39 a.m. EDT (1339GMT).

The S&P 500, on the other hand, decreased eight points, or 0.16%, to 5,520. The Nasdaq, meanwhile, fell 123 points, or 0.72%, to 17,010.

All three exchanges on Tuesday had their worst daily performance since the global stock market sell-off recorded on Aug. 5 amid fears of a recession in the US economy caused by weak production and manufacturing data.

The VIX volatility index, also known as the fear index, jumped 4.6% to 21.67 at the time. The 10-year US Treasury yield fell 0.69% to 3.815%.

The dollar index fell 0.2% to 101.62, while the euro increased 0.1% to $1.1054 against the greenback.

Precious metals were also mixed, with gold losing 0.26% to $2,486 per ounce but silver rising 0.17% to $28.09.

Oil prices were down almost 1%, with global benchmark Brent crude at $73.11 a barrel and US benchmark West Texas Intermediate crude at $69.70.