After Friday’s slaughter in the S&P 500 index futures, the bears were ready to feast on bids off the opening print on Sunday night. In fact, the 20-handle plus lower open, was just a few ticks off the high for the session. 

The sympathetic bounce off the open of the regular session was snuffed out early on and set the stage for the remainder of the session. That was sharp declines followed by meager rallies and another sharp decline.

The index did establish a new low for the year but did have a minor rally into the close. For the close, the index declined by 148.50 handles to close at 3750.50.

For the third day in a row, the biggest gainer of the top components of the index was the smallest loser. That was Johnson & Johnson (NYSE: JNJ) which declined by $1.74 or 1.01 percent to close at $170.81.

That was almost four times better than the cash index’s decline of 3.81 percent.

The biggest loser of the top components was once again Nvidia Corp (NASDAQ: NVDA). Its losing streak has been extended to four sessions by declining $13.27 or 7.8 percent to close at $156.47.

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