Stock Market Update

[BRIEFING.COM] The market is in a steady decline. The Nasdaq Composite shows a 1.1% decline now, falling further into correction territory (i.e. 10% drop from high). 

Many stocks participated in the deterioration, leading the equal-weighted S&P 500 to trade 0.4% lower. Nine S&P 500 sectors are lower led by the heavily-weighted consumer discretionary (-2.4%), financial (-2.1%), and communication services (-1.5%) sectors. Combined, they account for nearly 35% of the index. 

The CBOE Volatility Index is 0.33 higher, or 1.3%, to 25.20 as participants hedge against more downside risk.