S&P 500 Index opens deep in the negative territory, closes in on 4,300

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  • Wall Street’s main indexes are posting large losses after the opening bell.
  • All major sectors of S&P 500 trade in the negative territory.
  • CBOE Volatility Index is up nearly 7% on Wednesday.

Following Tuesday’s decisive rebound, major equity indexes in the US open sharply lower on Wednesday amid souring market mood. Reflecting the risk-averse market environment, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, is up nearly 7% on the day at 22.63.

As of writing, the S&P 500 Index was losing 0.7% at 4,312, the Dow Jones Industrial Average was down 0.5% at 34,160 and the Nasdaq Composite was falling 0.75% at 14,325.

All major sectors of the S&P 500 trade in the red after the opening bell with the risk-sensitive Technology Index losing 0.82% as the biggest decliner.

Earlier in the day, the data from the US showed that the private sector employment increased by 568,000 in September, compared to analysts’ estimate of 428,000, but this data doesn’t seem to be allowing risk flows to return.

S&P 500 chart (daily)