Nasdaq plummets 3.7% as US stocks end 4-day streak

By Ovunc Kutlu

ANKARA (AA) - Nasdaq plummeted 3.7% as US stocks ended a four-day rally amid high volatility.

The tech-heavy Nasdaq lost 538 points to close at 13,878. Uber and Amazon lost more than 7% apiece, while BlackBerry and Zoom fell 6% each.

The Dow Jones industrial average was down 518 points, or 1.45%, to 35,111.

The S&P 500 fell 111 points, or 2.44%, to 4,477.

The VIX volatility index, known as the fear index, soared 10.2% to 24.35 after staying above the critical psychological level of 20 in recent days.

The dollar index lost 0.57% to 95.39 but the yield on 10-year US Treasury notes rose 3.6% to 1.831%.

Precious metals were down with gold losing 0.1% to $1,805 per ounce and silver falling 1.1% to $22.41.

Crude oil jumped around 2% with Brent crude trading at $91 a barrel and US benchmark West Texas Intermediate at $90.1