Wall Street's 'fear gauge' punches back as the 'crash up' in chip stocks finally reverses
The monster rally in semiconductor stocks hit a wall on Friday, and the VIX at last caught up with other volatility metrics.
AI Summary
Wall Street's 'fear gauge' (VIX) surged on Friday as the semiconductor stock rally reversed sharply, with the VanEck Semiconductor ETF dropping nearly 10%. The VIX had been unusually low despite extreme market conditions, but Friday's sell-off caused it to post its biggest single-day pop since March, bringing it more in line with other volatility metrics that had already been flashing warning signs.