XLE - S&P 500 Drops 60 Points on Volatile Day: Oil Stocks Fall Sharply Apple Leads Tech Stocks Down Again
The S&P 500 Index (SNPINDEX: ^GSPC) has been doing its best yo-yo impression over the past week. Today's close was almost 1.8% lower, giving up almost 60 points after gaining 67 points, or 2%, yesterday. It's the fourth session in the past five market days that the index, which makes up about 80% of total U.S. stock market capitalization, either gained or lost more than 1.75%.
This marks nearly a week of high volatility that's mostly been to the downside. Since a record close of 3,580.84 on Sept. 2, the S&P 500 has lost almost 7% of its value. Today's sell-off, like most of the volatility we have seen this week, was broad, with the vast majority of the 505 stocks in the index finishing lower. Several sectors saw every stock fall on the day, and no sector had more gainers than losers.
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