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×S&P 500, Nasdaq close below 50-day average for first time in 110 trading days
US stocks retreated on Monday, with the “fear gauge” rising to its highest level in over five months amid US bond sales as markets assess the monetary policy prospects following retail sales data, which showed consumption resilience despite inflationary pressures.
The Dow Jones Industrial Average lost 248 points, or 0.65%, to close at 37,735. The 30-stock index shed almost 3%, or 1.168 points, to mark its sixth straight losing day.
The S&P 500 slipped 1.2% to finish at 5,061, below its 50-day moving average for the first time in 110 trading days. This would snap the index's longest streak above the intermediate-term trendline and support level since March 2011.
The Nasdaq Composite tumbled 1.8% to 15,885, closing below its 50-day moving average for the first time in 110 trading days. It snapped its longest streak without closing below that barometer since Feb. 2, 2018.
Elsewhere, the STOXX Europe 600 Index added 0.15% to 505.9 points.
FTSE 100 eased 0.4% to end at 7,965 points. The CAC 40 Index added 0.45% to 8,045 points. Germany’s DAX 40 Index gained 0.55% to 18,026 points.
The Nikkei 225 closed its first session this week 0.75% lower at 39,232 points. TOPIX also edged down 0.25% to 2,753 points.
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