Stocks took a hit on Monday mid-morning as major indices plunged. The Dow Jones Industrial Average was down by 950 points, representing a 2.4% decline. The broader S&P 500 index fell by 2.6%, while the tech-heavy Nasdaq Composite experienced a 3% drop.
Investor sentiment was reflected in the VIX, also known as Wall Street's fear gauge, which initially spiked to over 65 before settling at 40. The VIX measures market volatility and is often used as an indicator of investor anxiety.
