U.S. stocks settled lower on Monday, with the Nasdaq index recording its lowest finish since July 2020.
The Philadelphia SE Semiconductor index fell around 3.5% on Monday after the US placed restrictions on exports of certain high-end chips to China.
Shares of NVIDIA Corporation NVDA, Micron Technology, Inc. MU and Advanced Micro Devices, Inc. AMD, traded lower on Monday.
The Nasdaq 100 dipped 1.02% to close at 10,926.97 on Monday, while the S&P 500 fell 0.75%. The Dow Jones declined around 94 points to settle at 29,202.88 in the previous session.
Major sectors on the S&P 500 closed on a mixed note, with energy and information technology stocks recording the biggest decline on Monday. However, industrials and consumer staples stocks moved higher, providing some support to overall markets.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 3.5% to 32.45 points on Monday.
What is CBOE Volatility Index?
The CBOE Volatility Index, popularly known as VIX, is a measure of the equity market’s expectation of volatility based on S&P 500 index call and put options.
Image and article originally from www.benzinga.com. Read the original article here.