US stocks open mixed after Fed interest rate hike

By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened mixed Thursday, one day after the Federal Reserve's interest rate hike.

The Dow was down 205 points, or 0.6%, to 33,885 at 9.49 a.m. EDT.

The S&P 500, on the other hand, rose 39 points, or 0.94% to 4,158.

The tech-heavy Nasdaq jumped 281 points, or 2.39%, to 12,096.

The Fed raised its benchmark interest rate by 25 basis points Wednesday to fight inflation. “Inflation has eased somewhat but remains elevated,” it said in a statement. The US central bank raised the rate by 425 points last year in seven hikes.

The VIX volatility index, also known as the fear index, was down 2.5% at 17.42, while the 10-year US Treasury yield lost 1% to 3.364%.

The dollar index added 0.36% to 101.58, while the euro lost 0.7% to $1.0917 against the greenback.

Precious metals were mixed, with gold trimming 1% to $1,930 per ounce but silver rising 0.6% to $24.15.

Crude oil prices were down more than 1% with global benchmark Brent crude at $81.84 per barrel and US benchmark West Texas Intermediate crude at $75.53.