The iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) soared 5.06% in pre-market trading on Wednesday, reflecting growing concerns about market volatility. This surge comes amid reports of increased turbulence in the stock market during President Donald Trump's second term, with the CBOE Volatility Index (VIX) reaching levels not seen since August.

According to recent market data, the VIX, often referred to as Wall Street's fear gauge, has climbed above 65 in intraday trading this week. This significant spike in the volatility index has sparked renewed interest in VIX-related products, including ETFs and ETNs like VXX. Market analysts note that such high levels of volatility often lead investors to seek hedging strategies, which can drive up demand for volatility-linked instruments.

However, experts caution that while VIX-related products like VXX can offer short-term gains during periods of market turmoil, they come with significant risks. These instruments are complex, can be subject to rapid value erosion over time, and may not accurately track the VIX index itself. As the market continues to grapple with uncertainty, investors are advised to carefully consider their risk tolerance and investment goals before diving into volatile instruments like VXX.