- The major Wall Street indices started the day in negative territory.
- Energy sector stocks post strong gains supported by rising oil prices.
- The S&P 500 Tech Index is down more than 1%.
The main US stock indices They have started the new week on the wrong foot. At time of writing, the S&P 500 is trading at its lowest since Feb. 5 at 3,880 points, losing 0.6% on the day, the Dow Jones Industrial Average is down 0.45% at 31,349 and the Nasdaq Composite is down 1.1 % in 13,430.
Reflecting the market sentiment of risk aversion, the CBOE volatility index (VIX), Wall Street’s fear indicator, rises almost 10%.
Among the top 11 sectors of the S&P 500, the energy sector index is rising more than 2% driven by a 3% rise in crude oil prices on Monday. The financial sector index is the only other major sector that remains in positive territory. On the other hand, the risk-sensitive technology index is down 1% as the biggest drop after the opening bell.
S&P 500 daily chart
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