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Volatility in the US equity market had eased from a four-year high, but was still hovering around its highest level since early 2022.
The Chicago Board Options Exchange’s volatility index, the Vix, was at 38.22 on Monday afternoon, about 15 minutes out from Wall Street’s close, its highest intraday level since late January 2022.
US stocks opened lower, sending the Vix, popularly known as Wall Street’s “fear gauge”, to an intraday peak of 65.73, its highest since the onset of the Covid-19 pandemic in March 2020.
The Vix remains on course to close at its highest since October 2020.
