US stocks lower as markets await Fed chair's speech

US stocks lower as markets await Fed chair's speech

Powell may leave door open for more interest rate increases during his speech on Friday at annual Jackson Hole symposium

By Ovunc Kutlu

ISTANBUL (AA) — US stock exchanges were mixed Thursday as markets await Federal Reserve Chair Jerome Powell's speech.

The Dow Jones was down 70 points, or 0.21%, to 34.400 at 10.51 am EDT (1451GMT), while the S&P 500 fell 15 points, or 0.35%, to 4,420.

The Nasdaq decreased 85 points, or 0.62%, to 13,638.

Powell may leave the door open for more interest rate increases during his speech Friday at the annual three-day Jackson Hole symposium the will be held in the state of Wyoming until Saturday.

The VIX volatility index, also known as the fear index, rose 1% to 16.15, while the 10-year US Treasury yield increased 0.45% to 4.219%.

The dollar index added 0.23% to 103.67 and the euro fell 0.13% to $1.0844 against the greenback.

Precious metals were mixed, with gold rising 0.3% to $1,921 per ounce but silver declining 0.3% to $24.24.

Oil prices were down 0.4%, with global benchmark Brent crude at $82.89 per barrel and US benchmark West Texas Intermediate at $78.59.

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