US stock market closes lower on Friday
VIX volatility index jumps 5.1%
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Major indices in the US stock market closed lower on Friday amid worries that the US Federal Reserve may continue hiking rates in the near term.
The blue-chip Dow lost 292.5 points, or 0.86%, to end the day at 33,706, while the S&P 500 dropped by 55.4 points, or 1.29%, to 4,228.
The tech-heavy Nasdaq decreased 260 points, or 2.01%, to 12,705.
The VIX volatility index, also known as the fear index, jumped 5.1% to 20.56 The 10-year US Treasury yield climbed 3.45% to 2.979%.
The dollar index was up 0.56% to 108. The euro was down 0.46% to $1.0042 against the dollar.
Precious metals lost ground, with gold decreasing 0.62% to $1,760 and silver down 2.52% to $18.97.
The global oil benchmark Brent crude was at $96 per barrel for a 0.60% loss, while the US benchmark West Texas Intermediate (WTI) slipped 0.46% to $90.08.
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