Wall Street is reeling for the third trading day in a row, with the “fear index” nearing multiyear highs and stocks plunging quickly after the markets opened.
Last Wednesday, President Donald Trump announced sweeping 10% tariffs on all imports and, in some cases, higher tariffs on certain countries based on trade deficits. Stocks nosedived Thursday and Friday, and those losses were extended when the U.S. market opened Monday.
The fear surrounding Trump’s tariff policy was seen through the “fear index,” a nickname for the Chicago Board Options Exchange Volatility Index, better known as VIX. The VIX opened at over 60 and was up some 122% over the past few days, nearing the highest level since 2020 at the outset of the pandemic.
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“The lack of any major positive tariff
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