US stocks open lower with weak Microsoft, Boeing earnings

By Ovunc Kutlu

ISTANBUL (AA) - US stocks were down at the opening bell Wednesday with weak results from major companies, including Microsoft and Boeing.

The Dow fell 242 points, or 0.72%, to 33,490 at 9.36 a.m. EDT (1436GMT). The S&P 500 lost 48 points, or 1.2% to 3,968.

The tech-heavy Nasdaq decreased 193 points, or 1.7%, to 11,141 points.

Microsoft's stock plummeted 3.9% after it said late Tuesday that revenue rose just 2% in the October-December period -- the slowest increase in the company’s history since 2016.

Boeing shares were down 1.4% at the time as the aerospace manufacturer announced Wednesday that it saw more than $5 billion net loss last year.

The VIX volatility index, also known as the fear index, rose 4.7% to 20.11, while the 10-year US Treasury yield fell 0.8% to 3.440%.

The dollar index was flat at 101.93, whereas the euro added 0.5% to $1.0890 against the greenback.

Precious metals were in negative territory, with gold trimming 0.34% to $1,930 per ounce and silver shedding 0.3% to $23.60.

Crude oil prices were also down, with global benchmark Brent crude losing 0.2% to $85.95 per barrel and US benchmark West Texas Intermediate at $80.05 -- a 0.1% daily loss.