Wall Street stumbled on Tuesday, with broad losses by midday in New York as investors turned risk-off amid mounting concerns over lofty valuations, seasonal headwinds and fiscal strains.
- VIXY ETF is spiking. Check live prices here.
The CBOE Volatility Index (VIX) — Wall Street's "fear gauge" — surged nearly 20% to 19.2, marking its third consecutive advance.
Major equity benchmarks retreated, led by the Nasdaq 100, which slid 1.7%. The S&P 500 fell 1.4% in its first session of September — historically its weakest month of the year. The Dow lost more than 500 points or 1.1%.
Chipmakers bore the brunt of the sell-off. NVIDIA Corp. (NASDAQ:NVDA) dropped 3.6%, heading for a fourth straight day of losses, the longest skid since March. Arm Holdings plc (NASDAQ:ARM) sank 5%, while ASML Holding NV (NASDAQ:ASML) and Qualcomm Inc. (NASDAQ:QCOM) each lost about 3%.
Fresh economic data added to the gloom. The ISM Manufacturing PMI showed a sixth consecutive month of contraction, highlighting how tariffs, intended to shield the domestic industry, are instead driving up costs and delaying investment.
Safe-haven demand remained strong. Gold hit fresh record highs above $3,500 an ounce, while silver extended its surge past $40. In energy markets, crude oil jumped 2.6% to $65.65 after reports of renewed Ukrainian strikes on Russian oil facilities.
Bond markets also came under pressure. Long-dated yields climbed across advanced economies, with 30-year U.S. Treasuries up five basis points to 4.97% — hovering just below the closely watched 5% mark.
Bitcoin (CRYPTO: BTC) managed to escape the broader sell-off and rose 1.6% to above $110,000.
Tuesday’s Performance In Major U.S. Indices ETFs
| Major Indices | Price | Chg % |
| Dow Jones | 45,038.89 | -1.1% |
| Russell 2000 | 2,334.30 | -1.3% |
| S&P 500 | 6,370.68 | -1.4% |
| Nasdaq 100 | 23,025.76 | -1.7% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) slipped 1.5% to $584.49.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) fell 1.1% to $451.04.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) sunk 1.7% to $560.
- The iShares Russell 2000 ETF (NYSE:IWM) fell 1.3% to $232.05.
- The Consumer Staples Select Sector SPDR Fund (NYSE:XLP) outperformed, down 0.3%; the Technology Select Sector SPDR Fund (NYSE:XLB) lagged, down 2%.
Stocks On The Move Tuesday
S&P 500’s Top 5 Gainers
| Stock Name | % Chg |
|---|---|
| Ulta Beauty Inc. (NASDAQ:ULTA) | +6.45% |
| Biogen Inc. (NASDAQ:BIIB) | +3.84% |
| Ralph Lauren Corp (NYSE:RL) | +3.36% |
| Humana Inc. (NYSE:HUM) | +3.05% |
| Newmont Corporation (NYSE:NEM) | +2.59% |
S&P 500’s Worst 5 Losers
| Stock Name | % Chg |
|---|---|
| TransDigm Group Inc. (NYSE:TDG) | -7.50% |
| Constellation Brands Inc. (NYSE:STZ) | -6.97% |
| Kraft Heinz Co. (NASDAQ:KHC) | -6.96% |
| Albemarle Corp. (NYSE:ALB) | -6.45% |
| GE Vernova Inc. (NYSE:GEV) | -6.30% |
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