The Volatility Index (VIX), a key measure of market volatility, experienced a significant surge on July 18, 2024. After being down 2.3% pre-market, it reversed to rise by 9% during the trading day. Over the past five days, the VIX has increased by 28%, indicating heightened market volatility. The index hit a high of 16, a level not seen in weeks, suggesting potential for continued market turbulence. This surge in volatility is attributed to weaknesses in major market leaders, prompting investors to seek protective measures. The 30-day mean of the VIX has also dropped to 12.57. Analysts note that if the VIX remains above 16, the market may face further declines, whereas a drop below 15 could signal a return to stability.