Danielle DiMartino Booth, Columnist

Powell Shows Markets He Won't Be Rattled by Volatility

The smart money may head for the hills anyway.

Keeping his poker face.

Photographer: Chip Somodevilla/Getty Images
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Markets are unmoored. Tried-and-true patterns that dictated trading behavior have broken down, leaving many investors at a loss, both figuratively and literally.

The Cboe Volatility Index, or VIX, a gauge of stock market volatility derived from the prices of options tied to the S&P 500, has almost doubled in this year’s first quarter.