US stock market closes Monday mixed

By Ovunc Kutlu

ISTANBUL (AA) - Major indices in the US stock market closed Monday mixed amid the sudden collapse of two large banks.

The Dow Jones lost 90 points, or 0.28%, to end the day at 31,819. The S&P 500 fell 5 points, or 0.15%, to 3,855.

The tech-heavy Nasdaq, on the other hand, rose almost 50 points, or 0.45%, to 11,188.

While investors have been worried about the SVB's spillover effect, the New York State Department of Financial Services announced late Sunday it shut down Signature Bank to protect depositors.

The VIX volatility index, also known as the fear index, jumped 6.9% to 26.52, while the 10-year US Treasury yield plummeted 4% to 3.547%.

The dollar index fell 0.9% to 103.66, while the euro added 0.8% to $1.0726 against the greenback.

While investors reached out to precious metals as safe haven assets, the price of gold jumped 2.4% to $1,912 per ounce and silver soared 6% to $21.76.

Oil prices lost more than 2.7%, with global benchmark Brent crude at $80.54 per barrel and US benchmark West Texas Intermediate at $74.58.