The broad S&P 500 Index of large-cap stocks plunged 2.1%. All 11 primary sectors reported declines, with energy stocks leading the pack. The energy sector fell by 3%. Information technology declined by 2.9%.
A measure of implied volatility known as the CBOE VIX spiked at the start of the holiday-shortened week. VIX rose more than 15% on Tuesday to 35.80 on a scale of 1-100, where 20 represents the historic average.
We’re going to move forward with a clean CR (continuing resolution), hopefully through the beginning of December… I hope by the end of the week we’ll have something firmed up.
While the funding agreement ensures that federal agencies won’t shut down on Sept. 30, progress on a Covid-19 stimulus plan remains stalled in Congress. Democrats and Republicans have failed to reach a new funding resolution that would aid Americans impacted by the shutdowns–even after President Trump signed executive orders on Covid-19 relief. Watch the video below.