- The major Wall Street indices are posting big losses after the opening bell.
- All major sectors of the S&P 500 are trading in negative territory.
- The CBOE volatility index rose nearly 7% on Wednesday.
After Tuesday’s decisive rally, the main US stock indices. they opened sharply lower on Wednesday amid a bitter market environment. Reflecting the risk-averse market environment, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, is up nearly 7% on the day to 22.63.
At time of writing, the S&P 500 Index was losing 0.7% to 4,312, the Dow Jones Industrial Average was down 0.5% to 34,160 and the Nasdaq Composite was down 0.75% to 14,325.
All major sectors of the S&P 500 are trading bearish after the opening bell, with the risk-sensitive tech index shedding 0.82% as the biggest decline.
Hours earlier, US data showed private sector employment increased by 568,000 in September, compared with analysts’ estimate of 428,000, but this data does not appear to allow risk flows to return.
S&P 500 chart (daily)
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