Bulls lose steam in US trading as Wall Street closes in the red

Wall Street ended yet another day of volatile trading in the red tonight.

After bullish sentiment swept the market higher on Tuesday, the Dow Jones Industrial Average gained more than 200 points in the first two hours of trading, but the index closed almost flat, down 0.08 per cent at 24,893.35.

The tech-heavy Nasdaq index closed 0.9 per cent lower at 7,051.98 and the S&P 500 closed 0.5 per cent lower at 2,681.66 after both indexes traded in the green for most of the day.

The Vix “fear index”, a measure of stock volatility, hit 50, its highest point since 2015, on Tuesday, but today, the Vix dropped back down to 27.73 amid steadier trading, but the measure was still more than double where it has stood for the past year.

Markets in Europe were on the rise, however. In the UK, the FTSE 100 closed 1.93 per cent higher at 7,279.42 after sustaining its worst loss since the day after the Brexit vote on Tuesday.

On the European mainland, indexes also finished the day higher, with Germany’s Dax closing 1.6 per cent up and France’s Cac 40 ending 1.82 per cent higher.

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