US stocks post worst daily loss in over 2 months

By Ovunc Kutlu

ISTANBUL (AA) – US stocks closed with losses Tuesday, registering their worst daily performance since mid-December.

The Dow Jones Industrial Average plummeted 697.10 points, or 2.06%, to finish at 33,129.59.

The S&P 500 dropped 81.75 points, or 2%, to 3,997.34, with the index losing all of its gains since the beginning of February.

The tech-heavy Nasdaq shed almost 295 points, or 2.5%, to end the first trading day of the week at 11,492.30.

US markets were closed Monday for Presidents Day.

The VIX volatility index, also known as the fear index, jumped 7.5% to 22.82. The 10-year US Treasury yield, meanwhile, rose 3.3% to 3.957%.

The dollar index was up 0.3% to 104.18, while the euro declined 0.3% to $1.0647 against the greenback.

Precious metals were mixed, with gold shedding 0.3% to $1,835 an ounce but silver rising 0.1% to $21.84.

Crude oil prices were down as global benchmark Brent crude fell 1.5% to $82.78 per barrel, while US benchmark West Texas Intermediate crude decreased 0.6% to $76.09 a barrel.