The CBOE Volatility Index (VIX), which is often used as a proxy to measure the amount of fear in the market, is elevated following Tuesday's sell-off, but nowhere near levels that have traditionally signaled capitulation.
The VIX rose 14% on Tuesday to 27.27 from 23.87 on Monday following a 4.3% decline in the S&P 500 index, its worst day since June 2020. The 14% rise in the VIX is relatively small given the large decline in the S&P 500 which ranks among the ...