Ovunc Kutlu
February 03, 2023•Update: February 03, 2023
ISTANBUL
US stocks opened lower on Friday after key jobs figures.
The US economy added 517,000 jobs in January, above the market estimate, while the unemployment rate fell to 3.4%, the Labor Department announced earlier.
The market expectation for nonfarm payrolls was a 185,000 gain in January, while the market estimate for unemployment was to come in at 3.6%.
The Dow Jones was down 127 points, or 0.37%, to 33,926 at 9.34 a.m. EDT (1434GMT). The S&P 500 fell 45 points, or 1.1%, to 4,133.
The tech-heavy Nasdaq decreased 223 points, or 1.8%, to 11,977 at the time.
The VIX volatility index, also known as the fear index, was down 1.1% at 18.52, while the 10-year US Treasury yield rose 3.4% to 3.514%.
The dollar index added 0.76% to 102.52, while the euro lost 0.5% to $1.0857 against the greenback.
Precious metals were down, with gold trimming 1.6% to $1,882 per ounce and silver plummeting 3% to $22.72.
Crude oil prices, on the other hand, were up more than 0.5%, with global benchmark Brent crude at $82.60 per barrel and US benchmark West Texas Intermediate crude at $76.44.
