Stocks end losses, oil slides as Biden taps reserves

Yahoo Finance's Jared Blikre checks out the market action heading into the final trading of the day, in addition to the energy sector and the price action surrounding crude oil.

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- Let's head over to Jared Blikre at the Yi-Fi Interactive to delve deeper into what's happening today. Jared. JARED BLIKRE: That's right. If you take a look at our world map here of the indices, well, a lot of red, except for a couple of places here. But nevertheless, it is the last day of the month, and sometimes these things happen. We talk about pension fund rebalancing. It could be it. Well, let's take a look at the year-to-date, which we're closing today. You can see recently we've had quite a nice string of green candles right here. We managed to punch above these highs of February. And Dow is not quite there just yet. Kind of straggling or struggling to get to those highs. But the NASDAQ has done it as well. So let's take a look at the VIX here. And we can see volatility a little bit up today, but you can see the string of red candles here very much to the downside. Now let's take a look at the sector action because over-- well, this is going to be commodities. By the way, crude oil down 6%. Guess what, energy-- energy, there you go. Energy is down 1/2 a percent. But I want to take a look at what's happened year-to-date, and we're going to see a lot of red. Energy is the stand out, up 39%. Utilities really coming back this month, up almost 5%. But look at what's trading to the downside here, communication services, consumer discretionary, tech. Those are those megacap laden sectors. When you take a look on the month-to-day basis, kind of the flip, where we see utilities mounting that comeback I was talking about, followed by materials, real estate, energy, discretionary, and health care. Also tech is outperforming there. So really interesting to see those dynamics at work. And when we do the same analysis on our leaders, we see a pretty interesting phenomenon here. We have cannabis stocks in the lead, followed by transports, momentum, all of those are outperforming. KWEB, that's Chinese internet-- excuse me, internet ETF. That's the biggest loser here and that is trading 13% to the downside. On a year-to-date basis? A lot more red, and ARKK is the biggest loser there. Down almost 30%, guys.