VIX Jumps 20% As Stocks Slump, Gold Tops Record Highs: What’s Moving Markets Tuesday?
Wall Street stumbled on Tuesday, with broad losses by midday in New York as investors turned risk-off amid mounting concerns over lofty valuations, seasonal headwinds and fiscal strains.
- VIXY ETF is spiking. Check live prices here.
The CBOE Volatility Index (VIX) — Wall Street’s “fear gauge” — surged nearly 20% to 19.2, marking its third consecutive advance.
Major equity benchmarks retreated, led by the Nasdaq 100, which slid 1.7%. The S&P 500 fell 1.4% in its first session of September — historically its weakest month of the year. The Dow lost more than 500 points or 1.1%.
Chipmakers bore the brunt of the sell-off. NVIDIA Corp. (NASDAQ:NVDA) dropped 3.6%, heading for a fourth straight day of losses, the longest skid since March. Arm Holdings plc (NASDAQ:ARM) sank 5%, while ASML Holding …
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