US stock market plummets ahead of key jobs figures

By Ovunc Kutlu

ISTANBUL (AA) - Major US stock market indexes plummeted Thursday to close with big losses, a day before the release of key jobs figures.

The Dow Jones Industrial Average shed 543 points, or 1.66%, to close at 32,254. The S&P 500 fell 73 points, or 1.85%, to finish at 3,918.

The tech-heavy Nasdaq dove 237 points, or 2.05%, to end the day at 11,338.

Nonfarm payrolls and the unemployment rate for February, which are closely watched by the Federal Reserve for its interest rate decisions, will be released Friday before the market opening at 8.30 a.m. EDT.

The VIX volatility index, also known as the fear index, jumped 18% to 22.54, while the 10-year US Treasury yield decreased 1.5% to 3.917%.

The dollar index fell 0.4% to 105.27, while the euro added 0.3% to $1.0579 against the greenback.

Precious metals were in positive territory, with gold adding 1% to $1,831 per ounce and silver rising 0.2% to $20.07.

Oil prices meanwhile were down around 1.4%, with global benchmark Brent crude at $81.51 per barrel and US benchmark West Texas Intermediate at $75.58.