VIX Suggests More Pain For US Stock Markets Ahead

VIX Suggests More Pain For US Stock Markets Ahead

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) jumped more than 4% after markets closed on Tuesday.


Check out stocks making big moves in the premarket.

 

US stocks had a rough day, ending Tuesday’s trading session with losses. The Dow Jones index lost 0.62%, while the S&P 500 was down 0.92%. The Nasdaq Composite and Nasdaq 100 shed 0.95% and 0.97%, respectively.

ServiceNow Inc’s NOW stock tanked almost 13% on Tuesday, after CEO Bill McDermott warned of macroeconomic headwinds during CNBC's Mad Money show. This dragged down other cloud stocks. Shares of Salesforce Inc CRM lost almost 5%. Enphase Energy Inc’s ENPH stock fell more than 8%, after gaining over 6% in a week.

Travel stocks performed well amid the broader sell-off. American Airlines Group Inc’s AAL spiked almost 10%, while shares of United Airlines Holdings Inc UAL, Carnival Corp CCL, Boeing Co BA and Delta Air Lines Inc DAL climbed 8.09%, 7.54%, 7.42% and 6.15%, respectably.

Investors await inflation data, scheduled for release on Wednesday. Inflation rate in the US is widely projected to accelerate to 8.8% in June, from 8.6% in May, driven by a surge in gasoline and food prices.

Posted In: Chicago Board Options Exchange's CBOE Volatility IndexNewsMarketsTrading Ideas