US stock exchanges lose more than 1% midweek

Major indices in the US stock market were in negative territory Wednesday, posting more than 1% losses at midweek.

The Dow Jones was down 606 points, or 1.9%, to 31,495 at 10.50 a.m. EDT. The S&P 500 fell 70 points, or 1.8%, to 3,849.

The tech-heavy Nasdaq plummeted 168 points, or 1.5%, to 11,259.

The VIX volatility index, also known as the fear index, jumped 18.8% to 27.95, while the 10-year US Treasury yield dove 6% to 3.418%.

The dollar index rose 1.2% to 104.85, while the euro lost 1.8% to $1.0535 against the greenback.

Precious metals were on the rise, with gold adding 1% to $1,922 per ounce and silver increasing 1.1% to $21.92.

Oil prices lost more than 4%, with global benchmark Brent crude at $73.95 per barrel and US benchmark West Texas Intermediate at $67.72.