The CBOE Volatility Index (VIX) has declined sharply from last week's high of 60, with recent levels ranging from 28 to 33 as of April 17, 2025. The index briefly fell below 30 multiple times, including a reading of 28.98, and was at 30.88 on April 17. Last week, the VIX reached highs of 52 and 53, and was at 32 on Friday, 31 on Monday, and 28-30 on Tuesday. US Secretary of the Treasury, Scott Bessent, stated that the VIX has likely peaked, following its recent spike. Bespoke Investment noted that the acute phase of the recent stock selloff may have ended, with the VIX now close to its long-term average and pre-tariff levels. The VIX's 30-day mean is 31.82. The S&P 500's forward price-to-earnings (PE) ratio stands at 20.3x, above its 10-year mean of 19.1x and 20-year mean of 16.7x. On a trailing basis, the PE ratio is 25.8x, compared to a 10-year mean of 24.5x and a 20-year mean of 22.4x. EPS estimates for 2025 are $263.05, with a growth rate of 10.7%. The S&P 500 trades at 17.3x 2026 EPS estimates. In related markets, the 10-year US Treasury yield was at 4.27% on April 17. The India VIX, another measure of market volatility, closed at 15.47, down 2.51% on Thursday and 23.08% over the week.