US stocks give up earlier gains to close lower

By Ovunc Kutlu

ISTANBUL (AA) – US stocks gave up earlier session gains and closed with losses Thursday.

The Dow Jones Industrial Average was down 249.13 points, or 0.73%, to end the day at 33,699.88. The S&P 500 fell 36.36 points, or 0.88%, to 4,081.50.

The tech-heavy Nasdaq decreased 120.94 points, or 1.02%, to finish at 11,789.58.

The VIX volatility index, also known as the fear index, jumped 5.4% to 20.69, while the 10-year US Treasury yield rose 0.8% to 3.665%.

The dollar index lost 0.15% to 103.56, while the euro gained 0.23% to $1.0734 against the greenback.

Precious metals were in the red, with gold trimming 0.7% to $1,862 per ounce and silver losing 1.5% to $21.97.

Crude oil prices were down more than 1%, with global benchmark Brent crude at $84.14 per barrel and US benchmark West Texas Intermediate crude at $77.65.