US stocks end with strong gains, fear index falls sharply

By Gokhan Ergocun

ISTANBUL (AA) – Major US stock indexes ended the week sharply higher on Friday.

Indices followed a positive course on the last transaction day of the week, with the expectation that the slowdown in macroeconomic data will erode the aggressive stance of central banks in tightening policies.

The Dow Jones Industrial Average gained 823.32 points, or 2.68%, to close at 31,500.68.

The S&P 500 earned 3.01 points, or 3.06%, to end the day at 3,911.74.

The Nasdaq was up by 375.43 points, or 3.34%, to finish at 11,607.62.

The VIX volatility index, also known as the fear index, dropped sharply by 6.23% to 27.24 as of 5.46 p.m. Eastern Time (2146GMT).

The dollar index dropped 0.29% to 103.895, and the 10-year US Treasury yield rose by 2.2% to 3.138%.

Precious metals see mixed figures, as gold fell by 0.07% to $1,828.6 per ounce, and silver was up by 0.43% to $21.13.

Global benchmark Brent crude traded at $113 a barrel for a 2.68% increase, while US benchmark West Texas Intermediate crude was at $107.45 – a 3.05% increase.