US stocks closed lower on Monday, as investors digested recent comments from the Federal Reserve officials.
The S&P 500, during the previous week, recorded its biggest weekly percentage surge since late June.
The Nasdaq 100 dropped 0.98% to close at 11,700.94 on Monday, amid gains in shares of Microsoft Corp (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN). The S&P 500 fell 0.89%, while the Dow Jones dipped over 211 points to settle at 33,536.70 in the previous session.
Major sectors on the S&P 500 closed on a negative note, with real estate and consumer discretionary stocks recording the biggest plunge on Monday. However, health care stocks, bucked the overall market trend, gaining around 0.1% in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) gained 4.8% to 23.60 points.
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.
