US stock market opens flat with volatility soaring



Major indexes in the US stock market opened mostly flat on Monday as soaring volatility has created worries for investors.

The Dow Jones was up only 2 points to 33,075 at 9.40 a.m. EDT (1340GMT), with major investing banking firms Goldman Sachs and Morgan Stanley falling 1% and 2.9%, respectively.

The S&P 500 was down 3 points, or 0.1%, to 3,971 and the Nasdaq fell 4 points to 13,134 with Novavax plummeting 4.5% but Twitter jumping 5%.

The rise in indexes came as the VIX volatility index soared 7.8% to 20.34. The fear index closed below 20 on Friday, calming investors’ worries amid global economic recovery from the coronavirus pandemic.

The yield on 10-year Treasury notes was up 1% to 1.676% at the time.

After seeing its price plummeting more than 10% in recent weeks, Bitcoin saw a rapid recovery to above $58,000 mark for over a 4% daily gain, while some cryptocurrencies were up as much as 18%.

Precious metals have continued their decline, as gold was down 1.3% to $1,710 per ounce, and silver fell 1.9% to $24.5.


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