The CBOE Volatility Index falls; Closes at the Bottom of the S&P 500 – Alibaba Group Holding (NYSE:BABA), Analog Devices (NASDAQ:ADI)

The S&P 500 closed lower on Tuesday to start a holiday-shortened week.

The Federal Reserve left rates unchanged on Wednesday last week at a range of 5%-5.25%.

Rivian Automotive, Inc. rivn Shares rose 5.5% on Tuesday after the company announced the signing of a deal with Tesla, Inc. TSLA To provide Rivian users access to Tesla’s Supercharger network.

Alibaba Group Holding Limited Dad Shares fell 4.5% following the announcement of Eddie Wu, who will replace Daniel Zhang as chief executive officer effective Sept. 10. Jo Tsai will replace Zhang as chairman of the group.

US markets were closed on Monday for the Juneteenth holiday.

Most sectors on the S&P 500 closed on a negative note, with energy and materials stocks posting the biggest declines on Tuesday. However, consumer discretionary shares bucked the overall market trend, closing higher during the session.

The Nasdaq 100 closed down 0.09% at 15,070.15 on Tuesday amid a slide in stocks. Microsoft Corporation msft And Analog Devices, Inc. Etcetera,

The S&P 500 fell 0.47%, while the Dow Jones declined 0.72% to 34,053.87 in the previous session.

The CBOE Volatility Index (VIX) of the Chicago Board Options Exchange closed down 2.2% at 13.88 on Tuesday.

What is the CBOE Volatility Index?

The CBOE Volatility Index, popularly known as the VIX, is a measure of expected equity market volatility based on S&P 500 Index calls and puts. Option,

Read further: Wall Street’s Most Accurate Analysts Say These 3 Consumer Stocks With Dividend Yields Over 4% Are Buys

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