Wall Street opens in red pressured by falling tech and energy shares
Major equity indexes in the U.S. started the day in the negative territory on Monday as investors continue to stay away from risky assets. As of writing, the Dow Jones Industrial Average and the S&P 500 were both down 0.35% on the day while the Nasdaq Composite Index was losing 0.55%.
Concerns over an economic slowdown in the U.S. amid inverting Treasury bond yield curve seems to be hurting the sentiment. At the moment, the 10-year T-bond yield is losing nearly 1% on the day while the rate-related S&P 500 Financials Index is erasing 0.42%. Moreover, the risk-sensitive S&P 500 Technology and Energy Indexes are losing 0.72% and 0.63% to lead the losses. Confirming the risk-off atmosphere, the CBOE Volatility Index, Wall Street's fear gauge, is up 6.5% on a daily basis.
On the other hand, among the 11 major S&P 500 sectors, Utilities and Industrials are posting small daily gains.