US stock market closes with losses as volatility persists

US stocks market closed Wednesday lower for the third consecutive day as high volatility continues to put pressure on investors’ risk appetite.

The Dow Jones was down 164 points, or 0,5%, to 33,896 with investment banking majors Goldman Sachs and Morgan Stanley falling 1.7% and 1%, respectively.

The S&P 500 fell 12 points, or 0.3%, to 4,115 with Tesla plummeting 2.5%. The Nasdaq was remained almost unchanged by shedding only 4 points to 13,299 with Twitter falling 0.5% but Facebook gaining 1.1%.

The VIX volatility index was up 4.3% to 22.25, while the US dollar index gained 0.5% to 90.19.

Bitcoin made a dip below $29,000 earlier before recovering up to just below the $40,000 resistance level as investors question whether the world’s largest cryptocurrency by market cap is making a correction from its peak of $64,300 last month, or it has entered the bear market territory since losing around 50% from that level.

Source: Anadolu Agency