Following a three-day-long weekend, major equity indexes in the U.S. started the day in the negative territory as escalating concerns over a global economic slowdown following yesterday’s growth data from China continue to weigh on the sentiment. As of writing, the Dow Jones Industrial Average was losing 0.68% on the day while the S&P 500 and the Nasdaq Composite were down 0.9% and 1.15%, respectively.
Among 11 major S&P 500 sectors, industrials and materials both lose more than 1.5% to lead the losses in the early trade. Furthermore, a more-than-2% drop in crude oil prices weighs on the energy sector with the S&P 500 Energy Index falling by 1.4%. The only major sector that’s in the positive territory at the moment is the utilities.
Later in the day, markets will be waiting for fresh headlines on the U.S. government shutdown, which is now at a record-long 32 days. Meanwhile, the CBOE Volatility Index is up 4% on the day to reflect the dismal market mood.
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