US stocks down for third day with high volatility

VIX volatility index up again by 6%, rising 38% in 3 days

Ovunc Kutlu   | 12.05.2021
US stocks down for third day with high volatility


US stock opened lower Wednesday for a third consecutive day as high volatility continues to cause a decline, mostly in tech.

The Dow Jones fell 131 points to 34,137 at 9.45 a.m. EDT (1345GMT) with IBM and Intel sliding 0.5% and 1%, respectively.

The S&P 500 declined 19 to 4,132 and the Nasdaq was off 110 to 13,280.

Selloffs in tech continued as Zoom Video, GameStop and Uber each fell around 1.5%.

The VIX volatility index was up again by adding 6% to the 23.14 level. The fear index rose 38% in the last three days after it closed Friday at 16.69.

Investors have been worried since the World Health Organization said Monday that it was reclassifying the triple-mutant coronavirus variant in India a concern, indicating it has become a global health threat.

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