Major equity indexes in the U.S. started the day in the negative territory on Tuesday amid escalating India-Pakistan tensions. Several new outlets in the last couple of hours reported that there was a heavy exchange of fire in multiple locations along the Line of Control (LoC). As of writing, the Dow Jones Industrial Average is down 0.15% on the day while the S&P 500 and the Nasdaq Composite are losing 0.12% and 0.22%, respectively. Meanwhile, the CBOE Volatility Index, Wall Street’s fear gauge, is up around 2% on a daily basis.
Among the 11 major S&P 500 sectors, materials and technology are both erasing around 0.35% to lead the losses. On the other hand, rising crude oil prices help the S&P 500 Energy Index stay in the positive territory in the early trade alongside financials, which are supported by a more-than-1% increase in the 10-year T-bond yield.
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