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  • Wall Street’s main indexes started the new week sharply lower.
  • CBOE Volatility Index is up more than 16% on Monday.
  • All 11 major sectors of the S&P 500 trade in the negative territory.

Major equity indexes in the US opened sharply lower on Monday as flight-to-safety takes control of financial markets. Reflecting the risk-averse market environment, the CBOE Volatility Index (.VIX), Wall Street’s fear gauge, is up 16.03% on the day at 29.97.

Resurfacing fears over rising number of COVID-19 infections hurting the global economic recovery and the uncertainty surrounding the next relief bill in the US seem to be weighing on market sentiment at the start of the week.

As of writing, the S&P 500 was down 2% on the day at 3,252, the Dow Jones Industrial Average was losing 2.27% at 27,027 and the Nasdaq Composite was falling 1.85% at 10,596.

All 11 major sectors of the S&P 500 trade in the negative territory with the Energy Index leading the decliners with a daily loss of more than 4%. 

S&P 500 chart (daily)