By Ovunc Kutlu
ISTANBUL (AA) - US stocks opened lower on Friday as producer inflation rising above the market estimate once again triggered fears that the Federal Reserve could announce a higher-than-anticipated rate hike next week.
The Dow Jones Industrial Average fell 96 points, or 0.3%, to 33,683 at 9.55 a.m. EDT (1455GMT).
Shedding 7.7 points, or 0.2%, the S&P 500 registered at 3,955. The Nasdaq was down 43 points, or 0.4%, to 11,037.
The S&P 500 and Nasdaq had closed higher on Thursday as the two indices ended days of decline due to worries of a steeper Fed rate hike.
Those fears, however, were renewed before market opening on Friday, when producer inflation showed annual gains of 7.4% in November, exceeding the market estimate of 7.2%.
The VIX volatility index, also known as the fear index, was up 2.5% at 22.85. The 10-year US Treasury yield increased 1% to 3.527%.
The dollar index rose 0.1% to 104.88, while the euro fell 0.2% to $1.0537 against the greenback.
Precious metals were up, with gold adding 0.5% to reach $1,798 per ounce and silver rising 1.1% to $23.31.
Crude oil prices were also in positive territory. Global benchmark Brent crude was trading at $76.78 per barrel for an increase of 0.8%, while US benchmark West Texas Intermediate crude was around $72.23, up 1.1%.