U.S. stocks closed lower on Monday, but all the major indices recorded gains for the month.
The Dow recorded its biggest monthly percentage increase since January 1976. For the month, the blue-chip Dow surged 13.95%, while the S&P jumped around 8%.
Investors are now awaiting the Federal Reserve's policy meeting this week, with the central bank is projected to increase interest rates by 75 basis points on Wednesday.
Megacap growth stocks, including, Amazon.com, Inc. AMZN and Alphabet Inc. GOOGL also traded lower on Monday.
Shares of Global Payments Inc GPN dipped around 9% on Monday after the company issued weak full-year revenue forecast.
The Nasdaq 100 dipped 1.22% to close at 11,405.57 on Monday, while the S&P 500 fell 0.75%. The Dow Jones dropped around 129 points to settle at 32,732.95 in the previous session.
Majority of the sectors on the S&P 500 closed on a lower note, with information technology and communication services stocks recording the biggest plunge on Monday. However, energy stocks bucked the overall market trend, gaining around 0.6% in the previous session..
The Chicago Board Options Exchange's CBOE Volatility Index (VIX) gained 0.7% to 25.92 points on Tuesday.
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.
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