- The major Wall Street indices opened sharply lower on Monday.
- All major sectors of the S&P 500 are operating in negative territory.
- Energy stocks suffer heavy losses amid dismal demand outlook.
The major stock indices in the US. They started the new week on the downside as investors take a cautious stance amid a lack of progress in stimulus talks and the rising number of coronavirus infections globally. Reflecting the gloomy mood of the market, the CBOE Volatility Index is up nearly 8% on the day to 29.75.
At time of writing, the S&P 500 was down 1.1% on the day to 3,427, the Dow Jones Industrial Average was down 1.45% to 27,929 and the Nasdaq Composite was down 0.4% to 11,502.
The top 11 sectors of the S&P 500 are trading in negative territory after the opening bell with the Energy Index posting the biggest daily percentage drop of 2.55% at press time. The depressing outlook for energy demand is weighing on crude oil prices and a barrel of West Texas Intermediate (WTI) was last seen losing 2.5% on the day to $ 38.72.
S&P 500 daily chart
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Credits: Forex Street
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