US stocks open lower despite job additions beating estimate

By Ovunc Kutlu

ANKARA (AA) - Major indices on the US stock market opened lower on Friday despite job additions in May coming above the market estimate.

The Dow was down 266 points, or 0.8%, to 32,981 points at 9.31 a.m. EDT (1331GMT). The S&P 500 fell 49, or 1.2%, to 4,127.

Despite a 2.7% gain in previous session, the tech-heavy Nasdaq was off 200 points, or 1.6%, to 12,117 at the time.

US economy added 390,000 jobs in May, above the market estimate of 325,000, according to the Labor Department.

The VIX volatility index, also known as the fear index, was up 3.6% to 25.61.

The dollar index rose 0.14% to 101.97 and the 10-year US Treasury yield added 2.1% to 2.977%.

Precious metals reversed course, with gold losing 0.4% to $1,862 and silver falling 0.3% to $22.25.

Crude prices were up slightly. Global oil benchmark Brent crude was trading at $117.84 for a 0.2% gain, while US benchmark West Texas Intermediate (WTI) was at $117.16 -- a 0.25% increase.