Market Volatility Increases Sharply, S&P 500 Settles Lower

The S&P 500 moved lower on Monday ahead of earnings reports from several earnings.

The Children's Place, Inc. PLCE dropped 4% on Monday after the company issued updated preliminary Q4 net sales results at approximately $454 million to $456 million, versus its prior guidance of $460 million at the low end.

Traders are also awaiting speech by Federal Reserve Chair Jerome Powell on Tuesday.

Majority of the sectors on the S&P 500 closed on a negative note, with information technology and communication services stocks recording the biggest plunge on Monday. However, utilities stocks bucked the overall market trend, gaining 0.9% during the session.

The Nasdaq 100 dipped 0.87% to close at 12,464.52 on Monday, amid losses in shares of Amazon.com, Inc. AMZN and Apple Inc AAPL.

The S&P 500 lost 0.61%, while the Dow Jones fell 0.10% to 33,891.02 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) rose 6% to 19.43 points on Monday.

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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