The markets are volatile—and Wall Street’s most reliable barometer of panic has surged to levels not seen since April, when President Donald Trump’s sweeping “Liberation Day” tariffs triggered a global market meltdown. The Cboe Volatility Index, known as the VIX, peaked at 27.8 on Thursday and closed the day around 26.3—its highest point since the…
The stock market’s early rally fizzled by the afternoon, with the S&P 500 swinging from a nearly 2% gain to a slight selloff by midday. Nvidia, which initially jumped after reporting strong earnings, reversed 1% into the red along with the rest of the megacap AI trade. The broader market mood wasn’t helped by mixed…
With the Nasdaq down about six per cent from its peak at the end of October, and the S&P 500 index down about four per cent in the same period, it is fascinating to watch investors’ behaviour recently. Even though the year has been solid, with the S&P 500 up about 13 per cent year-to-date,…
Markets are not in a comfortable place right now. The S&P 500 was down by more than a percentage at yesterday’s close, the Dow Jones by near the same, and the Nasdaq was down nearly 2%. The VIX volatility index, by contrast, is up more than 9%—suggesting the turbulence is far from over. Even then,…
With the S&P 500 (^GSPC) trading near record highs and valuations approaching levels last seen during the dot-com bubble, strategists are rethinking what normal looks like for today’s market. Bank of America equity strategist Savita Subramanian is among those making the case. “Perhaps we should anchor to today’s multiples as the new normal rather than…
A leading Wall Street strategist is doing some calculations about the total value of U.S. stocks rocketing to a staggering 363% of GDP as of last Friday, blowing past the infamous 212% mark reached during the dotcom bubble. It’s a warning if you think it’s unsustainable, but David Kelly, chief global strategist for JP Morgan…