VIX drops from daily highs as traders analyze yesterday 30% volatility spike conditions

Yesterday, CBOE Volatility Index (VIX) measuring implied volatility of S&P 500 is now dropping from daily highs, as traders weigh in new conditions after yesterday, huge volatility spike. The index reached daily highs amid Asian-market session, but markets look a little bit calmer during European session. However, VIX may record another volatile move after JOLTS labor market report and Factory Orders dynamics from the US economy, scheduled at 3 PM BST. Nvidia, which crashed almost -10% yesterday extends loses in today pre-market, dropping another -2.5% as the company faces US Department of Justice antitrust investigation, in the court. Seasonality patterns usually lead to higher VIX levels in autumn, especially ahead of the US presidential election.

VIX (M15 interval)

Source: xStation5