While the DJIA succumbs to geopolitical headwinds, the VIX is exploring its highest levels in roughly five months
The Dow Jones Industrial Average (DJIA) is down nearly triple digits, as stocks react to intensifying geopolitical risks out of North Korea and Syria. Financial and tech shares are being especially hit hard, with Goldman Sachs and Apple stocks pacing the Dow losers. Amid the broad-market struggles, the CBOE Volatility Index (VIX) has jumped above 15 -- territory not explored since November -- while safe-haven demand has June-dated gold futures up 1.6% at $1,274.40 an ounce.
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- Plus, bears bombard Barrick Gold; United backlash intensifies; and another dreary day for this drug stock.
Among the stocks with unusual put volume today is Barrick Gold Corp (USA) (NYSE:ABX), with the contracts running at triple the expected intraday pace. The most active strike is the May 19 put, where Trade-Alert confirms a 5,165-contract sweep was bought to open, in hopes of a near-term pullback. Currently, ABX stock is 3.1% higher at $20.07.
One of the notable decliners on the New York Stock Exchange is United Continental Holdings Inc (NYSE:UAL), in the wake of yesterday's disturbing viral video. At last check, the airline stock is down 3.9% at $68.74, despite a price-target hike at Cowen.
For the second straight day, one of the worst percentage losers on the Nasdaq is Oncomed Pharmaceuticals Inc (NASDAQ:OMED), down 8.7% to trade at $5.07. Dropping the drug stock is a round of bearish brokerage notes.