Ovunc Kutlu
08 March 2022•Update: 08 March 2022
ANKARA
The Dow Jones opened higher Tuesday, recovering from the previous day's losses amid Russia's war in Ukraine.
Its industrial average rose 45 points, or 0.14%, to 32,863 at 9.50 a.m. EDT. The blue-chip index plummeted 797.4 points, or 2.37%, on Monday.
The S&P 500 was flat at 4,201.
The Nasdaq, on the other hand, was down 15 points, or 0.12%, to 12,815.
Investors are worried that a US ban on crude imports of Russia, one of the world's three largest oil suppliers, would place upward pressure on oil prices.
US President Joe Biden is expected to announce l a ban on Russian energy exports. The move later Tuesday would come without similar action from Washington’s European allies.
Brent crude was trading at $132, gaining 7.3%. US benchmark West Texas Intermediate (WTI) crude was at $128.5 a barrel, up 7.5%.
The VIX volatility index, known as the fear index, rose 2.2% to 37.26. The yield on 10-year US Treasury notes jumped 6.5% to 1.863%.
The dollar index, on the other hand, fell 0.3% to 98.99 after briefly climbing above 99.
Precious metals continued to increase, with gold adding 2.9% to $2,055 per ounce and silver rising 4.4% to $26.8.
