Dow drops 370 points, Nasdaq dives 1.8% as US stocks close lower

By Ovunc Kutlu

ISTANBUL (AA) — The Dow Jones dropped more than 370 points and Nasdaq plummeted over 1.8% as US stock exchanges closed Thursday on a lower note.

The blue-chip Dow Jones was down 373 points, or 1.08%, to close at 34,099, while the S&P 500 fell 59 points, or 1.35%, to 4,376.

The teach-heavy Nasdaq decreased 257 points, or 1.97%, to finish the session at 13,463.

The VIX volatility index, also known as the fear index, rose 7.4% to 17.16, while the 10-year US Treasury yield increased 1% to 4.245%.

The dollar index added 0.6% to 104.02 and the euro fell 0.5% to $1.0806 against the greenback.

Precious metals were mixed, with gold rising 0.1% to $1,917 per ounce but silver declining 0.8% to $24.12.

Oil prices were almost unchanged, with global benchmark Brent crude at $83.19 per barrel and US benchmark West Texas Intermediate at $78.88.