S&P 500 Index opens sharply lower dragged by energy and tech stocks

• S&P 500 Index turned south after touching new record high on Friday.
• Energy and technology stocks post heavy losses after the opening bell.
• Nasdaq Composite Index is losing more than 1%.

Major equity indexes in the US started the new week on the back foot pressured by heavy losses witnessed in energy and technology stocks. As of writing, the Dow Jones Industrial Average was losing 0.45% on the day at 30,948, the S&P 500 was down 0.75% at 3,795 and the Nasdaq Composite was falling 1.25% at 12,943.

Following the suspension of US President Donald Trump's account, Twitter Inc shares are down 11.4% on Monday and the S&P 500 Communication Services Index is the worst-performing major sector, losing 1.6%. Moreover, the S&P 500 Energy Index is retreating 1% hurt by a 1.85% decline in US oil prices.

On the other hand, the Healthcare Index is up 0.55% as the only major sector trading in the positive territory after the opening bell.

S&P 500 chart (daily)