Volatility in U.S. stocks surged to a record after benchmark indexes suffered the biggest rout since 1987.
The Cboe Volatility Index ended Monday at 82.69 as the S&P 500 Index tumbled 12%. The fear gauge’s prior closing high was 80.86 on Nov. 20, 2008, after lawmakers postponed a vote on a plan to save the auto industry.
The gauge’s rose as high as 83.56 during Monday's session, short of its intraday record of 89.53 reached on Oct. 24, 2008.
“In 2008, you pretty much knew it was banking system breaking down, but didn’t know exactly how, and now it’s everything breaking down and how that spills over,” said Steve Sosnick, chief strategist at Interactive Brokers. “The latter is worse, I’d argue -- this is dislocating everything.”
The VIX Index measures the 30-day implied volatility of the S&P 500 Index based on out-of-the-money options prices. The current level implies daily swings of more than 5% are in the offing for the benchmark equity gauge, which is lower than what’s been realized over the past 10 sessions.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
New director David Woodcock puts firms on notice over fees, conflicts, and liquidity risk as private credit shows signs of stress.
Advisors can help “separate the math from the emotion” when it comes to retirement, says JPMorgan’s Michael Conrath.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
