US stock market opens lower with extreme volatility

VIX volatility index soars 20%.

US stock market opens lower with extreme volatility

Major indexes in the US stocks market opened with huge losses on Wednesday with extreme volatility.

The Dow Jones was down 410 points, or 1.2%, to 33,650 at 9.37 a.m. EDT (1337GMT) with investment banking majors Goldman Sachs and Morgan Stanley falling 2% each.

The S&P 500 fell 57 points, or 1.4%, to 4,070 with Tesla plummeting 4.6%. The Nasdaq declined 208 points, or 1.5%, to 13,095 with Twitter, Airbnb and Zoom Video all falling more than 2% apiece.

The VIX volatility index soared 20% to 25.6 as investors turned towards the US dollar.

US dollar index, which shows the strength of the greenback against a basket of six other major currencies, was up 0.2% to 89.89.

Bitcoin has continued to plummet for the third consecutive day, falling to as low as $29,563 just before the US market opening. The world's largest cryptocurrency by market cap was trading just above $34,000 mark at the time of the opening bell -- losing almost half of its value since it hit a record high level of $64,300 last month. Some altcoins lost as much as 45% on Wednesday.

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YORUM EKLE