The eerie silence that blanketed Wall Street earlier this year has been shattered by a surge of market volatility that has returned this spring amid renewed concerns about the global growth outlook.
Prior to Wednesday’s modest decline in the VIX, the closely-watched “fear gauge” of the market had been in the midst of an eight-day stretch of increases -- its longest streak of gains in 25 years.
While the volatility metric was previously trading at nearly-dormant levels by historical standards, the uptick does underscore a level of nervousness that has crept back onto Wall Street in recent weeks.
Since plummeting to three-year lows of 13.66 on March 16, the VIX has spiked 54% to 21.06 -- a five-week high.
Not surprisingly, the leap in the VIX comes as the equity markets suffer a string of defeats that have backed the major indexes well off multiyear highs.
The Dow Jones Industrial Average, as quoted by Foxbusiness.com, tumbled 214 points, or 1.65%, on Tuesday -- its worst performance since November 23 -- leaving the index at its lowest level since early February. The blue chips fell 4.1% during their five-day slump.
How is Indonesia stock market today? Bisnis Indonesia provides recommendations:
Today, Jakarta Composite Index (JCI) may move in mixed with rebound possibility and move within the range of 4,095-4,166. Stocks to watch: GGRM, BBNI, and JPFA.
Today, the index is estimated to fluctuate. The support and resistance level is within 4,100-4,152. Negative sentiments from regional market propeled the sell-off action yesterday.
Technically, the JCI today may move in mixed with uptrend possibility. The index may move within the range of 4,110-4,165. Several stocks to watch for day trading" JPFA, GGRM, CMNP, and CTRS.
Disclosure: No position at the stock mentioned above.
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