VIX Surges Above 16 in Rare Four-Day Rally, Heading for Year's Highest Close

The CBOE Volatility Index (VIX), often referred to as the market's fear gauge, has seen significant movement, marking a rare occurrence of four consecutive green days, a phenomenon not observed since the lows of October 2023. Throughout the day, the VIX fluctuated, initially dropping, which was seen as positive for the market, but later surged, climbing above 16 and setting up for its highest close of the year. This movement represents the biggest spike in the VIX since October, with a notable increase of over 16% in a single day, indicating a resurgence of market volatility, with jumps greater than 14%.