Market volatility jumps to its highest level in nearly three weeks

seekingalpha
31 Oct 2024

TERADAT SANTIVIVUT

Volatility on Wall Street picked up a noticeable amount of steam on Thursday morning as the S&P VIX Index (VIX) popped up to its highest point in nearly three weeks.

The fear and sentiment index advanced 12% to hit 22.78, a level not observed since October 8.

Furthermore, a break above 23.76 in the VIX would mark the highest point for the volatility gauge dating back to August 9.

Uncertainty across investors was noticed as the tech-heavy Nasdaq Composite (COMP:IND) observed selling pressure, with the index falling more than 2% on the back of a post-earnings plunge in tech giants Microsoft (MSFT) and Meta Platforms (META). MSFT trades lower by 5.7%, while META has lost 3%.

It should also be noted that outside of Thursday’s move, the S&P 500 is looking at one of the least volatile election-year Octobers on record.

Moreover, see a grouping of volatility-based ETFs and ETNs that investors can monitor to gain further exposure towards how market sentiment plays out.

Short Term Volatility Funds: The iPath Series B S&P 500 VIX Short Term Futures ETN (VXX) and the ProShares VIX Short-Term Futures ETF (VIXY).

Medium Term Volatility Funds: The iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and ProShares VIX Mid-Term Futures ETF (VIXM).

Leveraged Volatility Funds: The ProShares Ultra VIX Short-Term Futures ETF (UVXY), ProShares Short VIX Short-Term Futures ETF (SVXY), and 2x Long VIX Futures ETF (UVIX).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10