Stock Market Update

[BRIEFING.COM] The S&P 500 briefly dipped below 5,600, a level its held above over the last two weeks. 

Three S&P 500 sectors are lower by more than 2.0% (communication services, consumer discretionary, and technology) and another three sectors show losses ranging from 1.0% (materials) to 1.5% (financials). The risk-off vibe in the market has the defensive-oriented utilities sector trading 1.2% higher. Fellow defensive sectors health care and consumer staples trade flat. 

Separately, the CBOE Volatility Index (VIX) spiked above 20.00 in response to this morning's data as investors hedge against further downside risk. The VIX stands at 20.23 now.