The Cboe Volatility Index , known as Wall Street's 'fear gauge,' jumped to its highest level in more than a month on Thursday as concerns over a ...
The Cboe Volatility Index , known as Wall Street's"fear gauge," jumped to its highest level in more than a month on Thursday as concerns over a resurgence of the novel coronavirus pandemic felled U.S. stocks.
The VIX rose to 40.79, its highest closing level since April 23. It registered its biggest daily point gain since March 16, in the midst of the plunge that signaled the end of the nearly 11-year bull run in U.S. stocks.Some investors said they believed such a pullback was long overdue given expectations for a slow recovery, which Federal Reserve Chair Jerome Powell reinforced in remarks on Wednesday.
Indeed, despite a sharp run-up in stocks over the past few weeks, expectations for volatility had remained elevated. The VIX rose on Monday even as the S&P 500 gained 1.2per cent and momentarily erased its year-to-date losses.Speculative buying activity likely increased the demand for downside protection and contributed to the rise in the VIX even before stocks fell later in the week, said Don Dale, chief risk strategist at Equity Risk Control Group.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street opens lower on fears of new coronavirus wave, Fed's cautious outlookNEW YORK (REUTERS) - The S&P 500 and the Dow Jones hit a one-week low on Thursday (June 11), after a sharp climb over the past month, as investors worried about a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.. Read more at straitstimes.com.
Read more »
Layoffs top 44 million in US as COVID-19 resurgence hits Wall StreetWASHINGTON, DC: Layoffs caused by the coronavrius pandemic reached 44.2 million in the United States even as businesses try to reopen, with ...
Read more »
Asia shares slip after mixed Wall Street session ahead of Fed meetingNEW YORK (REUTERS) - Asian equities slipped on Wednesday (June 10) after most US stocks pared gains made during their recent rally, although the Nasdaq benchmark reached its second straight day at a record high as oil prices rose.. Read more at straitstimes.com.
Read more »
Airlines hit wall of debt after COVID-19 groundingPARIS: Their fleets grounded for months owing to the coronavirus, airlines have sought with varying degrees of success state assistance to avoid ...
Read more »
Wall Street opens lower on fears of new coronavirus wave, Fed's cautious outlookNEW YORK (REUTERS) - The S&P 500 and the Dow Jones hit a one-week low on Thursday (June 11), after a sharp climb over the past month, as investors worried about a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.. Read more at straitstimes.com.
Read more »