US stocks down 1% with volatility back in markets

By Ovunc Kutlu

ANKARA (AA) - Major indexes in the US stock market opened lower Friday on last day of January trading as volatility has come back to the market with increased risks amid worries of coronavirus variants.

The Dow Jones was down 240 points, or 1.1%, to 30,263 points at 9.50 a.m. EDT (1450 GMT), while the S&P 500 fell 37 points, or 1%, rising to 3,751.

The Nasdaq dived 122 points, 1%, to 13,213 with Facebook, Apple, Amazon and Microsoft shedding more than 1% each.

The VIX volatility index, also known as the fear index, came back into the picture by soaring 5.2% to 31.78. The fear index jumped 61.6% to hit 37.21 at one point on Wednesday -- its highest level since Nov. 2.

Despite Pfizer shares rising 1% and Moderna skyrocketing 12%, the new strains of coronavirus keeps investors cautious, as they headed to precious metals seen as safe havens.

Gold was up to $1,864 per ounce with a 1.2% gain, while silver had soared 3.5% to $27.4 an ounce.

The US dollar index was flat around $90.05.