S&P 500 Index opens sharply lower dragged by energy and tech shares
|- Wall Street's main indexes are posting big losses after the opening bell.
- All major sectors of S&P 500 trades in the negative territory.
- Energy and technology shares are the worst performers.
Major equity indexes in the US started the day deep in the negative territory on Thursday as safe-haven flows continue to dominate the financial markets. Reflecting the risk-averse market environment, the CBOE Volatility Index, Wall Street's fear gauge, is up 11% on a daily basis at 28.90.
As of writing, the S&P 500 Index was down 1.35% on a daily basis at 3,340, the Dow Jones Industrial Average was losing 1.15% at 27,703 and the Nasdaq Composite was falling 1.87% at 10,844.
All the 11 major sectors of the S&P 500 trade in the negative territory after the opening bell. The risk-sensitive Energy and Technology indexes lose 2.4% and 1.85%, respectively, as the worst performers in the early trade.
Earlier in the day, the data published by the US Department of Labor showed that Initial Jobless Claims declined by 33,000 to 860,000 but was largely ignored by the market participants. Other data from the US showed that the headline Diffusion Index of the Federal Reserve Bank of Philadelphia's Manufacturing Business Outlook Survey edged lower to 15 in September.
S&P 500 chart (daily)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.