The S&P 500 index on Monday sustained its biggest loss in six weeks as Wall Street prepared for Federal Reserve’s interest rate hike.
Investors also digested weak Chinese trade data, as it recorded high trade surplus, as well as falling exports and imports, renewing woes of an economic degeneration in the country.
Consumer discretionary and energy stocks led the downfall of nine of the 10 major S&P sectors. The Dow Jones Industrial Average returned to negative territory for the year, with only two of its 30 components higher on the day.
The Dow Jones ended at 17,730.48 points, down 1.0%. The Nasdaq Composite closed at 5,095.30, down 1.01%. The S&P 500 settled at 2m078.58, down 0.98%.
The CBOE Volatility Index was at 16.52, up 15%, the most in a single session in six weeks.
The material has been provided by InstaForex Company – www.instaforex.com