NEW YORK, NY
Major indexes in the US stock market ended Monday in a high volatile session as rising numbers of coronavirus cases and deaths in the US increase uncertainty for investors.
The Nasdaq climbed to a record high level of 13,728 points in an hour after opening bell, but the tech-heavy index later lost 360 points quickly plummeting to 13,368. It ended the day with a 0.69% gain at 13,635 points.
While the Dow Jones closed the day with a 0.12% loss at 30,960 points, the S&P 500 managed to end the day with a 0.36% gain at 3,855 points.
S&P 500 VIX index, also known as fear index that shows volatility, was up by 21.5% at 26.63 at one point — a level that was last seen when former President Donald Trump’s supporters stormed the Capitol building on Jan. 6.
The recent rise in VIX index suggests that investors are worried amid rising COVID-19 cases as they are trying to avert risk by turning towards cash in US dollar and increasing their demand for treasury bonds.
While the US dollar index was up by 0.2% to $90.38 at closing bell, investors flocked the 10-year US Treasury notes to push their yield down by 5.3% to 1.033% — its lowest since the day of the Capitol riot.