US stocks lower at opening bell

By Ovunc Kutlu

ANKARA (AA) - US stocks opened lower Tuesday as a major sell-off continues amid fears of a recession.

The Dow was down 495 points, or 1.6% to 30,602 at 9.34 a.m. EDT (1334GMT). The S&P fell 64 points, or 1.7%, to 3,758.

The Nasdaq was off 197 points, or 1.8%, to 10,930.

The New York Stock Market was closed Monday in observance of the July 4 Independence Day.

The VIX volatility index, also known as the fear index, jumped 7.1% to 29.48. The dollar index rose 1.2% to 106.46.

The 10-year US Treasury yield, on the other hand, fell 3.1% to 2.815%.

Precious metals slipped with gold losing 0.8% to $1,793 and silver falling 2.1% to $19.55.

Crude prices were down more than 4%. Global oil benchmark Brent crude was trading at $107.79 for a 5% loss, while US benchmark West Texas Intermediate (WTI) was at $103.50 -- down 4.5%.