Volatility is back with a vengeance. Steve Sosnick, Chief Strategist at Interactive Brokers breaks down a turbulent Monday on Wall Street as the S&P 500 slipped for its third straight session, settling at 6,344 — now more than 9% off its recent closing highs. While the Dow managed a slight gain, the Nasdaq bore the brunt of the selling, sliding 0.7% as investors grappled with a "higher-for-longer" reality. Despite Federal Reserve Chair Jerome Powell’s attempts to soothe the market, surging oil prices and a steep 1% drop in the tech sector sent the VIX, Wall Street’s "fear gauge", piercing through the 30 level for the first time in a year.

Produced/Presented: Ryan Huang
Image: leo from pixabay