- The major Wall Street indices are posting heavy losses.
- All major sectors of the S&P 500 are trading in negative territory.
- US Treasury Secretary Mnuchin says it will be difficult to reach an agreement on COVID aid.
The main US stock indices They opened sharply lower on Thursday as safe-haven flows continue to dominate financial markets. Reflecting the risk-averse market environment, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, rose 8% on the day to 28.50.
At time of writing, the S&P 500 Index was down 1% on the day to 3,453, the Dow Jones Industrial Average was down 0.6% to 28,514 and the Nasdaq Composite was down 1.05% to 11,859.
During an interview with CNBC earlier in the day, US Treasury Secretary Steven Mnuchin repeated that it will not be easy to reach an agreement on aid for coronavirus relief before the election.
The top 11 sectors of the S&P 500 are trading in negative territory after the opening bell and with the Energy Index leading the declines with a loss of 2.5%.
S&P 500 chart (daily)
Credits: Forex Street