Wall Street opens sharply lower dragged by energy

Major equity indexes in the U.S. started the day sharply lower amid heavy losses suffered by the energy index. As of writing, the Dow Jones Industrial Average was down 130 points on the day while the S&P 500 and the Nasdaq Composite were erasing 0.5% and 0.6%, respectively.

With the barrel of West Texas Intermediate losing more than 1% on Friday, the S&P 500 Energy Index came under pressure and was last seen down 1.5% on the day. 

On the other hand, concerns over the potential negative impact of the government shutdown on the economy and fears about more companies reporting disappointing sales figures continue to weigh on the market sentiment. Reflecting the risk-off mood, the CBOE Volatility Index, Wall Street's fear gauge, is up 2.3% at the moment.

All the 11 major sectors in the S&P 500 are staying in the negative territory in early trade. Behind energy, industrials and financials are both dropping around 1%. 

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.