Major US stock market indices opened down on Monday, with strong selloffs.

The Dow Jones industrial average was down 471.2 points, or 1.38%, to 33,794 at 9.30 a.m. EDT (1430GMT).

The S&P 500 fell 74.4 points, or 1.69%, to 4,323 while the Nasdaq lost 295.9 points or 2.15% to 14,473.

The VIX volatility index, known as the fear index, jumped 17.33% to 33.85.

The dollar index gained 0.41% to 96.03, while the yield on 10-year US Treasury notes rose 2% to 1.743%.

Copyright 2022 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.