S&P 500 Drops For Fourth Straight Session, Market Volatility Falls

The S&P 500 closed lower on Wednesday following the release of minutes from the Federal Reserve's Jan. 31-Feb. 1 meeting.

Shares of Coinbase COIN dropped 1.4% on Wednesday after the company reported mixed Q4 financial results.

Majority of the sectors on the S&P 500 closed on a negative note, with energy and real estate stocks recording the biggest plunge on Wednesday. However, materials and consumer discretionary closed higher during the session.

The Nasdaq 100 rose 0.05% to close at 12,066.27 on Wednesday, amid slight gains in shares of Amazon.com, Inc. AMZN and Apple Inc AAPL.

The S&P 500 fell 0.16%, recording losses for the fourth straight session, while the Dow Jones lost 0.26% to 33,045.09 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) fell 2.5% to 22.29 points on Wednesday.

What is CBOE Volatility Index?

The CBOE Volatility Index, popularly known as VIX, is a measure of the equity market's expectation of volatility based on S&P 500 index call and put options.

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