European markets close lower, US extends losses

By Ovunc Kutlu

ANKARA (AA) - European stock markets closed lower on Monday, while US indices extended their losses despite a mixed opening.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 2.13 points, or 0.47%, to close at 450.77.

London's FTSE 100 fell 16 points, or 0.23%, to 7,011, while Germany's DAX 30 index was the worst performer of the day by diving 119, or 0.8%, to 15,036.

The French CAC 40 decreased by 40 points, or 0.61%, to 6,477. Italy's FTSE MIB slipped 154, or 0.6%, to 25,460 points.

Spain's IBEX 35 declined almost 8 points, or 0.1%, to 8,791.

Eurozone investor confidence fell for the third consecutive month to 16.9 in October, its lowest level since April 2021, according to Frankfurt-based sentiment analysis company Sentix earlier.

The expectations index also fell to 8.0 in October, from 9.0 in September, to its lowest level since May 2020. It marked the fifth monthly decline in a row.

- US turns negative

After a mixed opening to the first trading day of the week, major indices in the US extended their losses.

The Dow Jones dove 385 points, or 1.1%, to 33,945 at 12.37 p.m. in New York (1637GMT), while the S&P 500 was down 67 points, or 1.5%, to 4,288.

The Nasdaq plummeted 360 points, or 2.5%, to 14,206.

The VIX volatility index soared 13.4% to 23.98, and the yield on 10-year US Treasury notes rose 0.3% to 1.472%.

The dollar index, on the other hand, fell 0.25% to 93.80.

Precious metals have continued their increase with gold adding 0.5% to $1,770 per ounce and silver rising 0.55% to $22.66 an ounce.

Oil prices were up, approaching three-year highs once again, with a 2.7% gain. Brent crude was trading at $81.53 per barrel and the US benchmark West Texas Intermediate was at $77.89.