S&P 500 Index opens sharply lower as safe-haven flows dominate markets

• Wall Street's main indexes opened deep in the red on Friday.
• S&P 500 Energy Index is down nearly 2%.
• US President Trump's COVID-19 symptoms are reportedly mild.

Major equity indexes in the United States started the last day of the week on the back foot as investors seek refuge following US President Trump's contraction of the coronavirus and the mixed US jobs report. Reflecting the risk-averse market environment, the CBOE Volatility Index, Wall Street's fear gauge, is up more than 10%.

As of writing, the S&P 500 was down 1.2% on the day at 3,337, the Dow Jones Industrial Average was losing 1.05% at 27,527 and the Nasdaq Composite was falling 1.7% at 11,135. 

Earlier in the day, the monthly report published by the US Bureau of Labor Statistics showed that Nonfarm Payrolls increased by 661,000 in September and missed the market expectation of 850,000. On a positive note, however, the Unemployment Rate declined to 7.9% from 8.4% in August.

Meanwhile, the New York Times reported that Trump was showing mild, cold-like symptoms so far but this headline failed to provide a boost to sentiment.

Among the 11 major S&P 500 sectors, the Energy Index is down nearly 2% pressured by a more-than-4% decline in US crude oil prices.

S&P 500 chart (daily)