S&P 500 Wobble Pushes ‘Fear Gauge’ to Highest Since November
- VIX Index briefly surpasses its 200-day moving average
- Volatility has remained muted despite geopolitical risks
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A sense of torpor that’s descended on Wall Street’s chief fear gauge since the fall is starting to disappear.
A drop in the S&P 500 Index on Wednesday pushed the Cboe Volatility Index briefly above its 200-day moving average, the line it hasn’t closed above since October. The VIX — measure of the 30-day implied volatility of the S&P 500 based on out-of-the-money options prices — edged toward 16 in the morning, a level that implies daily swings of 1% could be in the offing, before slipping back.