U.S. Stocks Reverse Losses as Tech Gets Beat Up: Markets Wrap
- Trade war risk rises after Pompeo’s testy meeting in Beijing
- Volatility returns to markets as Vix rises close to July high
This article is for subscribers only.
U.S. equities scrambled back from a steep early decline Monday as investors sought bargains in beaten-down utility stocks and consumer shares after a two-day swoon. Technology firms remained lower on concerns that trade tensions with China are rising again.
The S&P 500 Index retraced an earlier slide to trade little changed, while the Nasdaq 100 Index tumbled to the lowest since Aug. 1 on its third day of declines, with software companies and semiconductor manufacturers the worst performing groups in the market. Volatility appears to be returning, with the Cboe Volatility Index, or VIX, at one point touching its highest intraday level since June.