"A lot of the expectations about what these financial stocks would be worth have changed,'' Kinahan said. Utilities stocks, traditionally seen as a more attractive investment at times of heightened market volatility, notched the biggest gain.Western Digital fell the most among companies in the S&P 500 index. Shares in energy companies also fell as the price of US crude oil declined. Losses also piled up for financial and technology stocks. US stocks indexes headed toward a sharply lower close in late-afternoon trading Monday, reflecting ongoing investor jitters over the fallout of Britain's vote to leave the European Union.European stock markets extended their losses from Friday.

Source: Economic Times June 27, 2016 19:30 UTC