In this way, the VIX went from 18 units on Thursday of last week, to the current 30.60 units, which represents a shot of 68%.
On Wall Street, the indices closed negative, dragged by technology companies that marked one of their worst weeks since March 2021 as the economy in the United States showed worse than expected data. The S&P 500 lost 0.8%, while the Dow Jones fell 0.1% and the Nasdaq tumbled 1.9%.
“In the S&P 500, if you look below the surface, there is a lot of slaughter in tech stocks that were somewhat overvalued and that is what is primarily contributing to the volatility,” said Jamie Cox, managing partner at Harris Financial Group.
From Delphos Investment they indicated that the VIX “remains in a turbulent zone. However, the adjustment experienced by the S&P 500 until Wednesday was similar to those of January, February, May, and September of this year, when the VIX reached over 28 points”.
Anyway, they warned that “this does not remove the possibility of another shock, but, in conjunction with economic dynamics, reinforces the floor zone reading … if the Fed and Covid-19 allow it.”
Source From: Ambito
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