U.S. stocks traded lower on Monday, with the Nasdaq index recording its lowest level since July 2020.
The Philadelphia SE Semiconductor Index fell about 3.5% on Monday after the US imposed export restrictions on certain high-end chips to China.
shares of NVIDIA Corporation NVDA, Micron Technology, Inc. mu and Advanced Micro Devices, Inc. AMDwas trading lower on Monday.
That Nasdaq100 fell 1.02% to close at 10,926.97 on Monday while the S&P500 fell 0.75%. That Dow Jones declined 94 points and settled at 29,202.88 in the previous session.
Major sectors of the S&P 500 ended mixed, with energy and information technology stocks posting the biggest declines on Monday. However, industrial and consumer staples stocks rose, providing some support to the overall markets.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 3.5% to 32.45 points on Monday.
What is the CBOE Volatility Index?
The CBOE Volatility Index, popularly known as the VIX, is a measure of stock market volatility expectations based on call and put options of the S&P 500 index options.
