The Cboe Volatility Index, known as Wall Street’s “fear gauge,” slipped to a fresh low Tuesday, as US stocks soared to new highs on expectations that fiscal stimulus and signs of progress in a countrywide vaccination drive will drive a broader economic rebound.
The VIX was recently down 0.54 pts at 19.49, its lowest since 21 February 2020, just days before the World Health Organization declared the coronavirus outbreak a global ‘pandemic’.
A VirusCasedemic-fueled decline that shaved 30% of the value off the S&P 500 last March pushed the VIX to a near-record high of 85.47, a mark topped during the global financial crisis of 2008..
The VIX as the S&P 500 rallied 80% from its 23 March 2020 lows to hit a fresh high Wednesday, led by tech stocks.
Have a healthy day, Keep the Faith!