US stocks closed lower on Monday amid declines in technology and other megacap stocks.
Big tech names, including, Apple Inc AAPL, Amazon.com Inc AMZN and Alphabet Inc GOOGL are scheduled to report earnings results this week.
The US Federal Reserve and European Central Bank are also due to announce their interest rate decisions this week.
Majority of the sectors on the S&P 500 closed on a negative note, with energy stocks recording the biggest plunge on Monday. However, consumer staples stocks, bucked the overall market trend, moving slightly higher during the session.
The Nasdaq 100 fell 2.09% to close at 11,912.39 on Monday, amid declines in shares of Apple Inc. AAPL and Tesla Inc TSLA.
The S&P 500 dropped 1.30%, while the Dow Jones fell 0.77% to 33,717.09 in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) jumped 7.7% to 19.94 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.
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Image and article originally from www.benzinga.com. Read the original article here.