* VIX rises for first time in four days
* Netflix up after brokerage raises to "buy"
* Indexes down: Dow 0.34 pct, S&P 0.49 pct, Nasdaq 0.50 pct
(Updates to open)
By Yashaswini Swamynathan
March 6 U.S. stocks opened lower on Monday amid
losses across sectors as investors' appetite for risk was curbed
by geopolitical tensions in Asia and President Donald Trump's
accusation that his predecessor, Barack Obama, wiretapped him.
Some investors worried that the accusation could distract
Trump from his economic agenda of introducing tax cuts and
simplifying regulations, which have powered a record-setting
rally on Wall Street since the election.
However, the lack of detail on Trump's proposals and
setbacks in filling his Cabinet have made investors jittery amid
lofty market valuations.
The CBOE Volatility index, also dubbed Wall Street's
fear gauge, rose for the first time in four days.
"The market is susceptible to short-term swings and choppy
behavior predicated on something Trump says," said Andre Bakhos,
managing director at Janlyn Capital in Bernardsville, New
"Most investors are positive about the Trump administration.
However, there is caution that something could be said by the
administration that could derail the enthusiasm."
The S&P 500 is trading at about 18 times forward earnings
estimates against the long-term average of 15 times, according
to Thomson Reuters data.
Rising geopolitical tensions in East Asia after North Korea
fired four ballistic missiles also weighed on global stock
At 9:40 a.m. ET (1440 GMT), the Dow Jones Industrial Average
was down 71.65 points, or 0.34 percent, at 20,934.06, the
S&P 500 was down 11.79 points, or 0.49 percent, at
2,371.33 and the Nasdaq Composite was down 29.37 points,
or 0.50 percent, at 5,841.39.
All of the 11 major S&P sectors were lower. Financials
, which gained the most in the post-election rally, took
the biggest hit.
Among stocks, Netflix rose 2.3 percent to $142.4
after UBS upgraded the stock to "buy" from "neutral".
Albemarle was the biggest percentage loser on the
S&P, with a 5 percent decline after Citigroup downgraded the
lithium producer's stock to "neutral" from "buy".
Tyson Foods was down 3.2 percent at $61.52 after a
strain of bird flu was detected in a chicken breeder flock on a
Tennessee farm contracted with the company.
Declining issues outnumbered advancers on the NYSE by 2,224
to 469. On the Nasdaq, 1,873 issues fell and 521 advanced.
The S&P 500 index showed five new 52-week highs and one new
low, while the Nasdaq recorded 23 new highs and 19 new lows.
(Reporting by Yashaswini Swamynathan and Tanya Agrawal in
Bengaluru; Editing by Saumyadeb Chakrabarty and Sriraj