Wall Street Fear Index surpasses Historic Level Amid Historic 5 Trillion Withdrawals
Wall Street Fear Index surpasses Historic Level Amid Historic 5 Trillion Withdrawals
The Chicago Board Options Exchange Volatility Index (VIX) is an index that reflects the stock market's expectations for near-term volatility in real time, reaching levels seen only twice since its inception.
According to "The Kobeissi Letter, an economic publication published on microblogging platform X (formerly known as Twitter), the VIX is now above 65 points, trading only between the 2008 financial crisis and the COVID-19 pandemic sell-off in 2020.
After losing over 51 trillion in market capitalization in the last 5 months, the VIX is now trading above the 7-month low of 550% in 2024.
Urgent: The VIX Volatility Index is currently trading above 65, a level that has only been seen 2 times in history. The VIX only traded above 665 during the 2020 pandemic and the 2008 financial crisis 2 times.
the 2024 XT VIX Index is up 7% from a 550-month low.
#the stock market crash was due to a confluence of factors, including investor concerns about economic growth and potential overvaluation of artificial intelligence.
U. S. economic data began pointing to the possibility of a recession after worse-than-expected unemployment data triggered the so-called Sam rule.
Meanwhile, rising tensions in the Middle East raised investor concerns as Iran is expected to attack Israel soon in response to the assassination of Hamas leader Ismail Haniyeh in Tehran. The sell-off sent the stock market tumbling, with Japan's Nikkei 225 index posting its worst performance in two days, losing nearly 20% of its value over the period. The benchmark S&P500 stock index has fallen more than 3 percent in the past, while the Nasdaq technology index is down 3.3 percent.
The sell-off was so intense that some brokerage firms temporarily ceased operations.
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