US Stocks Down, Heading For Weekly Losses

Major stock exchanges in the US were down on Friday, heading for weekly losses.

The Dow Jones was down 384 points, or 1%, to 38,074 at 11.16 a.m. EDT (1516GMT). The S&P 500 fell 55 points, or 1.07%, to 5,143.

The Nasdaq, meanwhile, decreased 215 points, or 1.31%, to 16,226.

The VIX volatility index, also known as the fear index, jumped 20.9% to 18.03. The 10-year US Treasury yield rose 3.24% to 4.502%.

The US dollar index increased 0.7% to 106.04, while the euro declined 0.8% to $1.0637 against the greenback.

Precious metals have continued to show gains, with gold rising 1.3% to $2,403 per ounce and silver soaring 5.2% to $30.41

Oil prices increased more than 2%, with global benchmark Brent crude rising to $91.57 per barrel and US benchmark West Texas intermediate crude gaining to $87.05. -